Topicals is a Black-owned skincare brand devoted to solving chronic skin issues such as hyperpigmentation, eczema, and psoriasis.
Topicals was founded in 2020 and has grown 675% in sales year-over-year as of November 2022.
Today, the company announced $10 million in new financing to continue the innovative production and sufficiency of the brand.
The historic occasion marks Founder and CEO Olamide Olowe as the youngest Black woman ever to raise more than two million in venture-backed funding.
The funding will be directed toward inventory, the development of a YouTube content series, and other storytelling marketing and hiring. Topicals also plans to hire a seasoned beauty executive and a CFO.
“I love to keep the company fresh and new, with [employees] who understand beauty or maybe who don’t understand beauty but are coming in with a different point of view,” said Olowe. “We’re looking for people from different industries who can continue pushing a cultural narrative but also have experience because scaling a business is a bit formulaic.”
Topicals has now raised a total of $15 million in outside funding to date.
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