Hairstory, an American-based disruptor hair care brand, has landed a minority investment from equity investor Summit Partners.
The brand’s core product, New Wash, was developed without the use of detergents in an effort to stop consumers from over-washing their hair.
Founded by a team of hair care veterans in 2015, the company believes that cleansing the hair without shampoo is healthier for the hair and scalp, and better for the environment.
The brand said the new investment will help the brand to accelerate its developments in sustainable formulas and packaging, while expanding its community of hairdressers.
“We are passionate about the environment and challenged ourselves to think differently about our environmental footprint from the start,” said Eli Halliwell, Hairstory’s CEO.
“One of the biggest opportunities we identified was our ability to reduce plastic consumption.
“We launched with refill pouches for our subscriptions at the outset and quickly realised people were ok abandoning their plastic bottles, so we switched everything over to refill pouches.”
Halliwell said the brand is also hoping to make the switch to refills for its styling range.
Meanwhile, Melanie Whelan, Managing Director at Summit Partners, added: “We believe Hairstory’s differentiated and effective products, customer loyalty, profitability, and consistently smart and deliberate growth decisions make them a rare brand.
“We are delighted to partner with Eli and this passionate team to support the company’s next chapter: working to deploy a more expansive growth strategy while furthering sustainability-focused product innovation.”
