PALO ALTO, Calif., Sept. 28, 2015 /PRNewswire/ -- Walker &
Company Brands, the company that makes health and beauty simple for
people of color by developing products and services tailored to
their unique needs, today announced it has raised $24 million in a Series B round of funding led by
Institutional Venture Partners (IVP). Also participating in the
round are Andreessen Horowitz, Upfront Ventures, Daher Capital,
Collaborative Fund, Google Ventures, Felicis Ventures, and Melo7
Tech Partners. Individual investors include Earvin "Magic" Johnson,
John Legend, King Bach, Ron Johnson, San
Francisco 49ers CEO Jed York,
San Francisco 49ers President
Paraag Marathe, Ryan Leslie, Andre
Iguodala, Harrison Barnes,
Anre and Paula Williams,
Charles King and John Maeda.
The company also announced today that it has signed a deal with
Target® Corp (NYSE:TGT) to sell its flagship product, Bevel, at
select Target stores in the United
States and on Target.com.
Founded in 2013, Walker & Company Brands has focused to date
on its flagship brand, Bevel, the first and only shaving
system designed to reduce and prevent razor bumps and irritation in
men with coarse and curly hair. The latest round of funding will
allow Walker & Company Brands to continue to grow by
accelerating the development of new health and beauty products
tailored to the unique needs of people of color, establishing new
distribution channels for Bevel and reinvesting in team growth, all
while retaining dedication to superior customer service.
"Walker & Company Brands was created to make health and
beauty simple for people of color. I'm so grateful that our mission
has been enthusiastically embraced by our customers who continue to
drive the growth of the company with their loyalty to our flagship
product," said Walker & Company Brands CEO Tristan Walker. "We are excited to partner with
our investors to continue delivering on this mission through the
diversification of our product offerings and development of new
distribution channels for Bevel."
The company also announced today that Target will exclusively
offer Bevel products a la carte in select stores and on Target.com
beginning in 2016. Stated Walker, "We are thrilled to work with
Target to bring Bevel to guests in a new way. Target
understands that our brand offers high-quality, unique products
while adhering to the same high standards of customer service to
which we subscribe. We look forward to seeing our partnership drive
increased brand awareness and sales of Bevel."
"Walker & Company Brands is doing something that has not
been done before – addressing the overlooked and unmet health and
beauty needs of consumers of color," said Somesh Dash, General Partner at IVP. "With an
unwavering focus on efficacious products, superior customer service
and authenticity in all that the company does, Walker & Company
Brands is primed to break out as a leader in the market."
"Magic Johnson Enterprises and Walker & Company Brands share
the same mission of making a positive impact on multicultural
communities. African Americans want quality products that meet our
unique needs and we over-index in spending when it comes to
consumer goods," said Earvin "Magic" Johnson, retired NBA player
and CEO of Magic Johnson Enterprises. "I am excited to support
Tristan and his vision of creating distinct products for people of
color."
About Walker & Company
Walker & Company Brands makes health and beauty simple for
people of color by developing products and services tailored to the
unique needs of our community. Our vision is to build the world's
most consumer-centric health and beauty products company for people
of color, inspiring unprecedented customer loyalty. Walker &
Company's flagship brand is Bevel. The Bevel Shave System is the
first and only system clinically proven to reduce and prevent razor
bumps and irritation. To learn more about Walker & Company
Brands, visit www.walkerandcompany.com.
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