TLDR:
- Female-founded technology company, BoldHue, revolutionizing the beauty-tech industry with personalized foundation device
- Closed oversubscribed seed round, raising nearly $3.4 million, led by Lucas Venture Group
Boise-based technology company, BoldHue, has recently closed an oversubscribed seed round, raising nearly $3.4 million in funding. The round was led by Lucas Venture Group, with participation from other notable investors such as Capital Eleven, Backstage Capital, Tacoma Ventures, Mark Cuban, and Kevin Huvane. BoldHue, founded in 2020 by Rachel Wilson and Karin Layton, has developed a personalized foundation device that dispenses a perfectly matched shade in minutes, often referred to as the “Keurig for makeup.”
The funding milestone will enable BoldHue to begin shipping its first 10,000 units this fall to a waitlist of over 40,000 eager customers. The company’s innovative and patented device aims to disrupt the beauty-tech industry, offering a unique solution for personalized makeup needs. The funding will also support marketing initiatives, including a nationwide roadshow to introduce BoldHue’s technology to consumers coast to coast.
With previous rounds of funding totaling nearly $2 million, BoldHue’s latest seed round of $3.4 million marks their first priced round and will facilitate key executive hires, product shipments, and community-building efforts. Co-founder and CEO, Rachel Wilson, expressed gratitude for the support from investors and excitement for the company’s future as they embark on the next phase of their journey to revolutionize the beauty industry.
Overall, BoldHue’s successful seed round and innovative approach to beauty technology position them as a leader in the industry, with plans to bring personalized and convenient beauty solutions to consumers nationwide.
