SEEN Hair Care Closes $9 Million in Series A Funding
SEEN, the award-winning haircare brand developed by dermatologist Iris Rubin, MD, has closed a $9 million Series A funding. The company said in a press release that this investment will “accelerate SEEN's growth as the premier science-backed, clinically-proven beauty brand, which sits at the intersection of multiple billion-dollar markets, including haircare, sensitive skin, acne, eczema, dry scalp, and hair thinning.”
The round was fully subscribed, including a strong uptake from existing and new strategic investors. Participants include Mitch Rales, Co-Founder of Danaher Corporation; Somerville SPV, led by acclaimed investor Feroz Dewan; Sator Grove Holdings, a permanent capital investor; and George Mrkonic, a Board Director of Ulta Beauty, Inc. SEEN also received early funding support from renowned Harvard dermatologists and scientists, including Dr. Rox Anderson at Harvard/Massachusetts General Hospital.
"This marks another transformative milestone for SEEN," said Rubin, co-founder of SEEN and a graduate of Harvard Medical School. "A majority of adults in the US have self-described sensitive skin and over 100 million people in the US suffer from acne, eczema, dry scalp, and hair shedding, which can be exacerbated by irritating, allergenic, and/or pore-clogging ingredients in hair products. Our mission is to help people feel confident being seen by providing them salon-quality hair formulations clinically proven to also be skin friendly."
SEEN co-founder Gregory Maged said the funding will allow for a focus on innovation, further scaling of professional sampling to 10,000 dermatology practices in 2025, and an expanded retail footprint.
"We've had 100% compounded annual growth since our launch and consistently exceed Ulta's sales projections for the brand," Maged said.
SEEN said it is pioneering the "skinification" of hair care, bridging the gap between luxury haircare and skincare. The brand's success, the company said, stems from Dr. Rubin's groundbreaking insight that hair products can clog pores and irritate the skin, causing acne, eczema, and other issues. After struggling for years with breakouts, Dr. Rubin identified her haircare products as the cause. Following 4 years of development, SEEN launched in 2019 with three core hair products and has since grown into a complete line of haircare and styling products.
"I am delighted to become an investor in SEEN and believe they are setting a new standard for performance hair care," Mrkonic said. "SEEN is applying skin science to haircare, which is exactly the kind of category-defining innovation that gets Ulta excited."
Rales added that SEEN embodies all the qualities Danaher looks for in an investment.
"When we invest in a brand, we look for companies with large market potential, strong margins, and a platform that creates unique consumer benefits,” Rales said. “We also want to invest in leadership that is smart, agile, and driven by a passion for excellence.”
Widely embraced in the dermatology community, SEEN applies rigorous skin science and testing to its formulations. SEEN's Epidermal Rebalancing Technology uses efficacious skin-friendly ingredients to develop hair and body products that deliver stronger, smoother, healthier hair and healthy-looking skin. SEEN has been issued five patents, more than 7,000 five-star reviews, and more than a dozen beauty awards, and holds the National Eczema Association's Seal of Acceptance for its fragrance-free line. SEEN is available nationwide at HelloSeen.com, ULTA, Amazon, Dermstore, and SkinStore.