Olamide Olowe of Topicals is the Youngest Black Woman to Raise $10m in Funding!
Photo Credit: Topicals
Olamide OloweCo-founder, 26-year old, of the skincare company TopicalsAccording to the Associated Press,, was the youngest Black woman who has raised more than $10 million. Forbes.
Olamide, then 24, founded Topicals to create safe, effective products that suit all skin tones. Her childhood was spent dealing with skin conditions such as hyperpigmentation and ingrown hairs. Topicals is now one of the most popular skincare brands. SephoraAnnual sales grew by 675% each year. The brand raised $2.6million in funding in August 2020. Olamide is the youngest Black woman to have raised more than $2m in venture capital funding according to Forbes.
Topicals announced on Thursday that it has raised $10 Million in Series A funding from Venture Capital firm. CAVU Consumer Partners.
Olamide also shared the news through her Instagram page, and discussed how Topicals has progressed over the past two year. She also thanked her investors, and her team. Kelly Rowland Gabrielle Union, Hannah Bronfman?, and Jay Z’s Marcy Venture Fund Thank you for your collaboration to build the brand
Raising millions and the bar at the same time 🥂 Excited to announce @Topicals $10M Series A led by CAVU Consumer Partners. Topicals has achieved the following:
📈Revenue growth of 675% over the past year
📈 Sephora: Fastest-growing skincare brand
📈 This year, 1 product was sold per minute
📈 $100K donation to mental health organizationsThank you to the spottie hotties, my team, and our investors like Kelly Rowland, Gabrielle Union, Hannah Bronfman, and Jay Z’s Marcy Venture Fund for working alongside me to build a category-defining brand.
Olamide shared her top three secrets for building a brand that people love.
- Stick to your brand’s purpose and ethos.
- Don’t shy away from culture.
- Find genuine partners that support your vision.
She advises young entrepreneurs with a entrepreneurial drive to not hesitate in getting started. She says, “If you psych yourself out, even just a little bit, you won’t do it.” Don’t even think about what you can’t do. Just ask, “Why not me?”