BOISE, Idaho, July 2, 2024 /PRNewswire/ -- BoldHue, the
female-founded technology company revolutionizing the beauty-tech
industry with its personalized foundation device, has successfully
closed an oversubscribed seed round, raising nearly $5.2 million in funding to date. The round was
led by Lucas Venture Group with participation from Capital Eleven,
Backstage Capital, Tacoma Ventures, Mark
Cuban, and Kevin Huvane.
Founded in 2020 by two-time entrepreneur Rachel Wilson and published scientist and former
aerospace engineer for Raytheon, Karin
Layton, BoldHue is poised to disrupt the beauty-tech
industry. The funding milestone will allow the innovative and
patented device, which dispenses a perfectly matched shade in
minutes and has been dubbed the "Keurig for makeup" to begin
shipping its first 10,000 units this fall to an eager waitlist of
over 40,000.
BoldHue is proud to be a female-founded company, drawing a
meaningful parallel with Lucas Venture Group, a venture capital
firm recognized for backing female entrepreneurs under the guidance
of Managing Partner Sarah Lucas. "Supporting these trailblazing
women from day one has been an absolute pleasure. Rachel and Karin
have engineered the most elegant solution the beauty-tech industry
has ever seen, setting a new standard for innovation and
excellence. The 'wow' moment when people realize their perfect
match foundation is delivered instantly is incredible!" said
Lucas.
BoldHue initially raised nearly $2M between the company's friends and family and
pre-seed rounds, and this $3.37
million seed fundraise marks their first priced round. The
newly raised capital will allow the company to ship their first
round of kits, officially onboard their first round of key
executive hires, and support marketing initiatives —
including a nationwide roadshow. The BoldHue 'BoldCrew' street team
will visit major metropolitan areas to introduce their cutting-edge
technology and product from coast to coast, focusing on building
community ahead of the market launch.
"We're incredibly grateful for the overwhelming support from our
investors who share our vision for revolutionizing the beauty-tech
industry. This funding milestone not only validates our technology
but propels us forward in our mission to launch our personalized
foundation device to all consumers and makeup enthusiasts alike. We
are thrilled to be able to embark on the next phase of BoldHue's
journey," said Rachel Wilson,
Co-Founder and CEO of BoldHue.
About BoldHue:
BoldHue is a Boise-based
technology company with a beauty vertical, known for its
groundbreaking device that formulates foundation on-demand in the
comfort of your home. Founded in 2020 by Rachel Wilson and Karin
Layton, BoldHue aims to revolutionize the beauty industry by
providing personalized and convenient beauty solutions.
www.boldhue.com
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SOURCE BoldHue