NEW YORK, Jan. 6, 2021 /PRNewswire/ — Curlsmith, a premium haircare brand specializing in textured hair, announced today that it has closed its Series A financing led by BFG Partners. The funding will provide additional growth capital for the beauty brand, as it continues its expansion in both the United States and Europe. Curlsmith has performed exceptionally well since inception, most notably accelerating its growth in 2020, a year marked by retail closures and consumer uncertainty.
“We are ecstatic to be partnering with BFG as a fund well-known for supporting founders and fuelling early-stage growth,” said Michal Berski, Founder and CEO of Curlsmith. “BFG’s keen eye for backing breakout brands across consumer categories, and building them into famous brands makes them an invaluable partner.”
Curlsmith plays to a fast-growing, yet largely underserved customer base in the textured hair market. Despite 70% of the global population having wavy, curly or coily hair – and the growing movement towards embracing natural texture – few haircare brands have stepped up to meet the needs of these consumers.
Enter Curlsmith, with a line-up of over 40 clean, vegan, cruelty free haircare recipes that deliver salon quality results. The full product suite includes styling products, hair and scalp treatments as well as hair color, all formulated without silicones, sulphates, parabens or damaging chemicals. The roster of affordable, clean-label products have earned the brand countless awards, consistent 5-star reviews and its status as the top selling curl care brand at Ulta Beauty.
“At BFG we seek to partner with consumer businesses that care equally about developing innovative products and driving value for their costumers as they do managing the strength of their business fundamentals,” said Ben Fenton, partner at BFG Partners. “Curlsmith embodies this ethos in creating products that do better by and for a wide swathe of the population and the success of their strategy is born out in the brand’s exceptional growth.”
Today, Curlsmith products are available in over 1,200 Ulta Beauty stores in the United States as well as on their website.
Curlsmith’s premium product lines include Moisture, Scalp Care, Strength and Hair Makeup recipes, each offering complete regimes from shampoos and conditioners to masks, styling products and hair supplements. While targeted at the textured and curly hair care market, the brand now makes products to benefit all hair types.
Launched in 2018, Curlsmith began as an online community, offering haircare content on YouTube and Instagram, providing a space for the sharing of tips, tricks and tutorials for managing curls and waves. Fuelled by outreach from their growing following, the founders set out to co-create the next generation of curl care recipes, collaborating closely with their community, influencers and experts to develop everything from the recipes in the initial line-up to the brand name. Today, the brand is a synonymous with clean, curly haircare globally.
About BFG Partners
BFG Partners is a venture capital firm that seeks partnerships with early-stage consumer product companies whose products do better for people and the planet. BFG aims to work alongside exceptional entrepreneurs to foster sustainable growth and outperformance in categories across food, beverage and consumer products. In addition to providing portfolio companies with capital, BFG provides teams with the advice needed to make critical decisions and maximize opportunities. This advice spans operational strategy, tactical marketing, channel development, organizational design and capital planning. BFG Partners is based in Boulder, CO.
SOURCE BFG Partners