Divi Scalp & Hair Health announces minority investment from Norwest



Divi, a brand specializing in scalp and hair health products, secured a minority investment from Norwest, a global venture capital and growth equity firm. 

Founded in 2021 by entrepreneur Dani Austin, Divi has rapidly gained consumer recognition for its clean, science-based approach to hair care, particularly in the growing segment of scalp health. The company’s first product, the Scalp Serum, sold out within two hours of its launch, generating nearly $40 million in revenue in its first year, according to the company press release.

Divi has since broadened its product line to include shampoos, conditioners, treatment masks, and a dry shampoo.

The partnership with Norwest marks a significant milestone in Divi’s growth trajectory. “Welcoming Norwest into the Divi family is a huge milestone,” said Dani Austin, Divi’s founder, in a media statement. “Together, we are going to continue our focus on new product innovation while keeping our customer number one.”

About Norwest’s minority investment 

Norwest manages over $15.5 billion in capital and has a history of scaling founder-led brands, including Kendra Scott, Vuori, and Ritual. Sonya Brown, General Partner and co-head of Norwest’s Growth Equity team, will join Divi’s Board of Directors as part of the deal.

“Dani transformed her personal journey with hair loss into a fast-growing, science-based product line focused on the skinification of scalp and hair health. We look forward to working with Dani, Jordan, and the Divi team on this next phase of growth,” Brown said in a press statement.



Source link

About The Author