Topicals has raised $10 million in new financing. The fast-growing skincare brand, sold at Sephora, is led by its founder and CEO Olamide Olowe (shown above).
The Series A funding round was led by CAVU Consumer Partners. "The funding comes on the heels of explosive revenue growth for Topicals in 2021," the company says, stating that it sold one product every minute.
Jenna Jackson, principal of growth at CAVU Consumer Partners, will join Topicals' Board of Directors.
Olowe is a female entrepreneur on a mission to marry self-care with treating skin-related conditions. "I love CAVU's focus on mission-driven brands," says Olowe.
"They're very hands on with their portfolio brands…At this stage of growth, it's crucial for us to have an investment partner who can provide value outside of capital, and with CAVU we have a team of experts ready to roll their sleeves up and do the hard work of taking this brand to the next level," she says.
The funding will be used to further propel Topicals' omnichannel growth, drive new hires, support channel expansion, and fuel brand marketing awareness.
The company will also continue its mission of raising awareness around the connection between mental health and skin conditions.