Olamide Olowe has made history by becoming the youngest black woman to raise over $10 million in funding.
Olowe started Topicals in 2020 with the goal of creating safe, effective products for all skin tones after spending much of her childhood coping with chronic skin conditions like hyperpigmentation.
In August 2020, she became the youngest Black woman entrepreneur to raise over $2 million, having raised $2.6M in funding for her business at age 24.
Topicals is now the fastest-growing skincare brand at Sephora having sold out in 48 hours after its launch in March 2021.
On Thursday, Topicals announced that it had raised $10 million in a Series A round led by the venture capital firm CAVU Consumer Partners.
According to Forbes:
Topicals will harness the CAVU funding to expand the company and fuel brand awareness. The company is also committed to raising awareness around the connection between mental health and skin conditions. To date, Topicals has donated more than $50,000 to support nonprofits providing mental health resources to marginalized communities. Now the company will be able to launch a 12-month accelerator program to support nonprofits in the mental health space.