Today, Walker & Company Brands, a company that makes health and beauty simple for people of color by developing products and services tailored to their unique needs, has announced that they’ve raised $24 million in a Series B round of funding led by Institutional Venture Partners (IVP). The company, which owns Bevel products (a shaving system made for people of color), has also announced a partnership with Target to sell its flagship shaving product both in stores and online.
The bottom line: $24 million brings the company’s investments to a whopping $33.3 million dollars with names like John Legend, Magic Johnson and Ryan Leslie all involved as individual investors. In addition to no doubt bolstering Bevel, the new money will also help build out the research and development team. The company has already begun working on a new brand that “addresses an acute health or beauty need for women of color.”
Why it matters: A black-owned (owner Tristan Walker above) health and beauty company addressing the needs of men and women of color with investment by notable celebrities of color? That’s definitely something we can get behind.
Though Target isn’t slated to have Bevel’s product on shelves until early 2016.
What do you think?
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