The fund, led by Kendra Bracken-Ferguson and Lisa Stone, makes early-stage venture investments identified via BrainTrust Founders Studio, the largest platform dedicated to Black founders of beauty and wellness companies.
The capital raise will drive its omnichannel approach, supporting brick and mortar, experiential retail and Relevant: Your Skin Seen brand expansion. This capital, along with an initial Seed round led by Fearless Fund, together represents $12.5 million in total funds raised. With this seed plus investment, thirteen lune will reach profitability in 2023.
In two short years, Thirteen Lune has grown from an e-commerce destination featuring 13 foundational Black-founded brands, to offering 160+ beauty brands on its platform, 90% of which are BIPOC-founded, with the remaining 10% being from ally brands. In 2023, Thirteen Lune will continue expanding into 600 JCPenney locations nationwide and open its own flagship store in Los Angeles.
“Since the launch of thirteen lune in 2020, we’ve proven that inclusivity and scalability are not mutually exclusive,” said Patrick Herning, Thirteen Lune CEO and cofounder. “With a mission to inspire the discovery of BIPOC-founded brands for people of all colors and backgrounds, we enter 2023 continuing to lead with intention and authenticity that will position us to continue our growth and momentum.”