US-based health and beauty product maker Walker and Company Brands obtained $24m in series B funding yesterday from backers including internet company Google’s corporate venturing unit, Google Ventures.
Venture capital firm Institutional Venture Partners led the round and was also joined by Andreessen Horowitz, Upfront Ventures, Daher Capital, Collaborative Fund, Felicis Ventures, Melo7 Tech Partners, and angel investors including Magic Johnson and John Legend.
Founded in 2013, Walker produces consumer items aimed at the specific needs of people of colour. The company’s flagship brand, Bevel, is a range of shaving products for men with coarse and curly hair, including a razor, shaving brush and assorted oils and balms.
Concurrent to the funding announcement, Walker has revealed it inked a deal with retail chain Target to sell Bevel in stores and on its website. The series B capital will support the creation of more products, the formation of additional distribution partnerships for Bevel, and the hiring of more staff.
Walker previously secured $6.9m in a June 2014 series A round led by Andreessen Horowitz that also included Upfront Ventures, Collaborative Fund, Daher Capital and Johnson + Partners. Upfront, Collaborative and Daher had also contributed to a $2.4m seed round in 2013.
– Photo courtesy of Walker and Company Brands