Topicals, the revolutionary skincare company that seeks to transform the way people feel about their skin through effective products and mental health advocacy, today announced $10 millionin new financing led by CAVU Consumer Partners. The funding comes on the heels of explosive 3x revenue growth for Topicals in 2021 alone. Topicals is the fastest growing skincare brand at Sephora and has sold one product every minute this year. Jenna Jackson, Principal of Growth at CAVU Consumer Partners, will also join Topicals' Board of Directors.
"Through Topicals, we believe Olamide has set a new standard in beauty - not only by formulating and marketing effective over-the-counter replacement products for skincare - but also by destigmatizing the way consumers speak about their skin conditions," said Jenna Jackson, Principal of Growth at CAVU Consumer Partners. "Topicals is truly a category creator in that regard and truly aligns with CAVU's philosophy of investing in and building brands creating better-for-you products. I'm thrilled to partner with Olamide and this boundary-pushing beauty company."
Topicals was founded in 2020 by Olamide Olowe, the youngest Black female entrepreneur to raise millions in funding, who is on a mission to marry self-care with treating skin-related conditions. With one in four Americans experiencing chronic skin conditions, Topicals has reimagined how consumers treat flare-ups by effective products made with ingredients and herbals that have been scientifically proven via third-party, peer reviewed clinical studies.
"I love CAVU's focus on mission driven brands and from the first conversation with their team, it was clear that they shared our vision of disrupting the ointment category. They're very hands on with their portfolio brands, which was the biggest differentiator. 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." said Olamide Olowe, Founder & CEO of Topicals.
