Odele, the US indie hair care brand, has received minority investment from growth-equity investment firm Stride Consumer Partners, the backer of Patrick Ta Beauty, among others.
Odele launched in 2020 in Minneapolis, and was created by Lindsay Holden, Britta Chatterjee and Shannon Kearney.
Its mission statement was to deliver ‘clean’, prestige hair care at accessible prices.
The brand’s 20-plus skus include its hero products Clarifying Shampoo, Dry Shampoo and Hair Oil, which are sold in Target, CVS Pharmacy and Ulta Beauty in the US, and DTC via odelebeauty.com.
The undisclosed sum from Stride is expected to fuel investment within key areas of Odele’s business, namely marketing, talent and product innovation.
“We are beyond excited to partner with Stride,” said Odele co-founder Holden.
“Their team is deeply knowledgeable, and their collaboration, from the initial conversation through the fundraise process, has left us inspired and confident that they are the right partner to help us continue this momentum and reach our ambition for Odele.”
“We’re dedicated to building a brand that will last for generations – and that takes patience and sometimes restraint, which isn’t always in alignment with the objectives and speed of private equity,” added fellow founder Chatterjee.
“We were drawn to Stride because they understood our vision and business philosophy and shared our commitment to people and the planet.”
Nicole Fourgoux, Stride’s Operating Partner, added: “Odele is moving the bar in clean performance hair care.
“We have seen this market segment thrive at prestige price points and are thrilled that the Odele team has made performance-first clean formulas accessible.
“We know that Odele’s positioning has huge potential in the modern marketplace.”
Within the beauty space, Stride has previously invested in brands like First Aid Beauty, Tatcha and Skin Fix.
Last year, it backed celebrity make-up artist brand Patrick Ta Beauty, which was used to drive brand growth and boost distribution at Sephora.