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25 Dec

Amber Fillerup’s Hair Brand Dae Closes $8 Million Series

Influencer Amber Fillerup Clark’s Dae Hair has raised a $8 million Series A funding.

The raise was led by Verity Enterprise Partners, cofounded by Tina Bou-Saba and Matt Levin, with participation from Digital Brand Architects, Whitney Port, Aimee Song, Christine Andrew, and with continued participation of existing investor Willow Growth Partners. The round brings the brand’s total funding to $10.6 million, as Dae raised a $2.6 million seed round last yr.

Jenny Son, Dae’s president who joined the brand in 2021, told WWD that the corporate wasn’t actively trying to find an investment, but that there was lots of outside interest in recent months. “When it comes to the raise, for 2022 we actually didn’t set a goal to go right into a Series A. With the expansion of the clean beauty category, there was significant amount of interest from investors inside clean and particularly within the hair category so we were very fortunate to have been on this space where we weren’t in search of it out. It was really form of the precise time, the precise partner. So for us the intention wasn’t ever to necessarily exit this yr.”

Fillerup, who founded the clean and vegan hair care brand in 2020 and has an exclusive retail partnership with Sephora, added that she selected Verity Enterprise Partners, already an investor, for this round because it felt like a natural partnership.

“In talking to so many investors there was just something about each of them where I felt totally relaxed and myself like I used to be just talking to friends,” she said. “Sometimes whenever you’re talking to investors, I don’t know if it’s my very own insecurities or if it’s them intentionally attempting to intimidate or make it uncomfortable, but lots of times it may well have that uncomfortable feeling such as you’re in a job interview or something and with them it didn’t feel like that. It really just felt so natural. They totally got my vision. We’re each so excited concerning the brand and so in talking to them every thing just happened so naturally because I actually do feel like I’m just friends with them.”

As for what the funding might be used for, Son said Dae will hire more staff, support its Sephora partnership, in addition to launch further promoting campaigns. Dae’s current hair care assortment includes shampoos and conditioners, together with multitasking styling and coverings products to create a straightforward each day hair care ritual.

Of its investment, Verity Enterprise Partners’ Bou-Saba said: “Dae has proven its potential to scale, based on its rapid rise within the prestige hair care category. The brand is certainly one of the fastest-growing, most capital-efficient that we have now seen at this stage in beauty. We’re thrilled and honored to partner with Amber, Jenny and the Dae team on this exciting next phase of growth.”

Deborah Benton, managing partner of Willow Growth, added: “As an investor, it’s rare to search out a robust brand that delivers such highly efficacious and restorative results, all under an exquisite brand aesthetic that celebrates and elevates positivity and self care. This potent and compelling value proposition has broad appeal that resonates widely across all demographics.”

Dae declined to reveal revenue figures, but told WWD that it’s doubling the business from 2021 to 2022.

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