Topicals has raised $3.0M in total across 1 funding round.
Topicals's investors include Divergent Capital, Jenny Fielding, Scott Hartley, GSV Acceleration, Daniel Rosensweig.
Topicals is a skincare company that develops science-backed products targeting chronic skin conditions like eczema, hyperpigmentation, psoriasis, dry skin, discoloration, and ingrown hairs.[1][3][4] Its portfolio includes moisturizers, serums (e.g., Faded for hyperpigmentation), balms, leave-in conditioners, eye patches, tinted lip balms, and cleansing bars, sold primarily direct-to-consumer via its e-commerce site and through retailers like Sephora, serving a diverse audience seeking effective, inclusive personal care solutions without prescriptions.[1][2][3][4] The brand solves the problem of undertreated chronic skin issues by combining clinical efficacy with mental health advocacy, donating to related organizations, while generating around $10M in revenue and raising $22.6M total funding (latest: $10M Series A-II in March 2024).[1][2][3] With 51-200 employees in Santa Monica, California, Topicals shows strong growth through product expansions and high-replenishment items like its leave-in conditioner, which drives nearly half of DTC revenue.[1][2]
Topicals was founded in 2018 by Olamide Olowe, a 26-year-old Black female entrepreneur who became the youngest Black woman to raise $10M in venture funding, alongside co-founder Claudia Teng, driven by personal struggles with chronic skin conditions overlooked by traditional medicine and media portrayals of "perfect" skin.[1][3][5] Olowe's experiences with issues like eczema and hyperpigmentation, compounded by a lack of accessible, stigma-free solutions, sparked the idea to create efficacious products that destigmatize these conditions while prioritizing mental health.[1][3][5] Early traction came from hits like the Faded serum and eye masks, boosted by celebrity endorsements and retail partnerships; pivotal moments include securing $12.6M in funding and launching scent iterations and collaborations, such as the 2023 Palo Santo conditioner variant and a limited Billionaire Boys Club eye mask drop.[1][2][3][4]
Topicals rides the wave of DTC beauty tech and personalized wellness, capitalizing on e-commerce platforms to democratize access to science-driven skincare amid rising demand for inclusive, condition-focused products post-pandemic.[1][2][4] Timing aligns with consumer shifts toward mental health-linked self-care and clean beauty, fueled by social media destigmatization of flaws like hyperpigmentation—a market gap for non-prescription solutions amid inflation-pressured retail.[1][3] It influences the ecosystem by pioneering Black-founder success in venture (e.g., record funding), inspiring diverse entrepreneurship, and blending physical products with digital advocacy to expand beauty's scope beyond aesthetics into holistic health.[2][3]
Topicals is poised for accelerated scaling via retail expansions, international DTC growth, and category extensions like color cosmetics, building on its $10M+ revenue and fresh funding to hit broader markets.[1][2] Trends like AI-personalized skincare, sustainability mandates, and Gen Z's mental health focus will propel it, potentially evolving into a full wellness platform with tech integrations for routine tracking. As a trailblazer in inclusive beauty, its influence could reshape venture norms for underrepresented founders, amplifying science-backed innovation in a $500B+ global skincare arena—transforming "flare-ups" into empowered routines.
Topicals has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in August 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2020 | $3.0M Seed | Divergent Capital, Jenny Fielding, Scott Hartley, GSV Acceleration, Daniel Rosensweig |
