A New Funding Round led by Cleveland Ave, with participation from a16z, Goldman Sachs Asset Management
with a network of over 50,000
$40m Series C round led by Cleveland Ave, with participation from
the Growth Equity business within Goldman Sachs Asset Management
and a16z. Mayvenn’s mission is to use technology to empower the
professional stylist community. The Mayvenn platform enables stylists to
earn money selling beauty products and over the past two years has expanded into a marketplace, offering salon services through its curated
network of beauty pros. The services marketplace, combined with the
e-commerce platform, lay the foundation for an end-to-end beauty ecosystem encompassing services and products. This unique
offering financially empowers the professional beauty community and is simplifying the beauty experience for customers. This Series C round of funding will go towards Mayvenn’s next big expansion of its ecosystem
- an unprecedented partnership with Walmart to bring tech-enabled, physical beauty experiences into Walmart’s across the country. Funds from this raise will also support the continued expansion of Mayvenn’s
digital platform into more productivity tools for stylists.
where customers can digitally browse local Mayvenn network stylists and book salon services. The stores generate both product sale revenue, as well as marketplace salon services revenue. These retail experiences will be heavily augmented with technology and are the first elevated beauty shopping experiences that are truly inclusive to women of color. With plans to expand these Beauty Lounges to 400 Walmart locations, this omni-channel strategy will bring immense scale to Mayvenn’s brand and platform, while driving income to tens of thousands of local hair stylists and small salon businesses.
co-founder of Mayvenn. “These Mayvenn Beauty Lounges are more than retail experiences - they drive digital bookings to local small salon businesses, bringing them added income, which is core to our mission.
partner at Andreessen Horowitz. “The Walmart relationship moves the transaction from the virtual to the physical world and dramatically expands Mayvenn’s reach. We believe they are now poised to become a top brand in women’s beauty.”
business. The investment is additionally part of Goldman Sachs’ One Million Black Women initiative, a $10 billion commitment to narrow opportunity gaps and impact the lives of Black women over the next decade across key pillars including job creation and workforce
we look forward to continuing to collaborate with the Mayvenn team as they scale their business.
For more information, please visit https://shop. mayvenn.com/.
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