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Scent Beauty Closes Series A Funding Round

October 11, 2021 BeautyMatter
October 11, 2021
Scent Beauty

Fragrance developer Scent Beauty has closed a Series A funding round led by Boston-based KSV Global.

WHO: Founded in 2018 by Stephen Mormoris, Scent Beauty is an omnichannel fragrance developer with a portfolio of fragrances including scents from Cher and Dolly Parton.

WHY: The infusion of capital will help scale the business expand internationally and fund future projects.

IN THEIR OWN WORDS: Steve Mormoris, founder and Chief Executive Officer of Scent Beauty, told WWD, "With the new capital injection, we will scale internationally more quickly in Europe and Asia, and we will be adding new brands of colossal scale in the next two years, and we can also keep up with working capital requirements in terms of inventory creation as we grow our existing brands, such as Cher, Dolly Parton, Stetson and others."

“We are thrilled to be partnering with Scent Beauty in its next stage of growth," said Dan Gay, co-founder and Managing Partner of KSV Global, in a statement. "Its team has assembled an influential portfolio of brands and this funding will enable them to expand new global partnerships more quickly and disruptively. We are grateful to be a growth partner.”

DETAILS:

  • Scent Beauty has closed a Series A funding round led by KSV Global. The financial terms of the deal were not disclosed,
  • According to Crunchbase, the business raised $2 million in December 2020 and a round of debt financing in August 2021; the most recent round brings total funding to $12 million.
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