The company that caters to the beauty and health needs of African Americans has now raised $24 millions dollars with the help of Magic Johnson, John Legend as well as Nas and even a deal with Target to sell his shaving products.
So Walker’s taken on investment from a slew of new investors, raising $24 million in a Series B round led by Institutional Venture Partners and a handful of other firms including Andreessen Horowitz, where Walker served as entrepreneur-in-residence, Google Ventures, Felicis Ventures and individuals like Johnson, Legend, basketball players Andre Iguodala and Harrison Barnes and San Francisco 49ers CEO Jed York. The money will go straight to research and development and hiring, Walker says.
“What investors see and we see is a company with a suite of brands that solve health and beauty needs. That could be 20 or 50,” says Walker. “We’re making health and beauty simple for all people of color.” -Source
This is great news for the African American beauty market which is noticeably scarce compared to its counterparts. In the future Walker plans to cater more to women...who just so happen to spend way more on beauty products than men.