Latinx Clean Beauty Brand Ceremonia Surpasses $100k in Revenue in First 100 Days

The company is announcing a new round of funding which will be used to meet growing international demand and expand further into wholesale channels

News provided by

Silas Capital

May 05, 2021, 08:19 ET

NEW YORK, May 5, 2021 /PRNewswire/ -- Ceremonia, the clean hair care brand rooted in Latinx heritage, launched in October 2020 with a clear mission: to cater to the diversity of the Latinx community and in turn, cultivate inclusivity for the often-overlooked demographics in the beauty space. Six months later, the company has outperformed revenue projections by more than 50% and set new standards for sell-through rates for early stage beauty brands.

Born out of CEO and Founder Babba C. Rivera's desire to empower the next generation to embrace a new natural through clean yet effective products, last summer Rivera became one of 58 Latina women to raise $1 million through venture capital funding—a feat that's even more impressive as Latinx women only earn an average of 54 cents on the dollar of white men, and Latina founders only receive a mere 0.4% of venture capital funding.

Since then, Rivera has already surpassed this milestone, by raising an additional $2 million in the company's latest seed round. Co-led by Silas Capital and Beliade, Ceremonia has turned to investors who have hands-on experience in the direct-to-consumer channel, as well as the beauty and wellness categories to help support the company's next phase of growth–– one that appeals to Ceremonia's increasing international and wholesale demand. Through this growth, Rivera is committed to further disrupting the beauty industry through Latinx representation and being both a trailblazer and role model.

"The support that Ceremonia has received in our first six months since launch has been incredible," says CEO and Founder, Babba C. Rivera. "This brand was inspired by my mother's approach to beauty and father's love for hair. It is an honor, as their daughter and a Latina founder, to be able to grow this business and work with partners who value what we are doing with Ceremonia. The latest financing round will help us meet international demand and exciting new wholesale opportunities, while also continuing to develop products together with our community. We are so grateful for Brian from Silas Capital and Martin from Beliade for their trust in Ceremonia, as well as the continued support from our existing investors, Pocket Sun and Elizabeth Galbut from SoGal Ventures."

Brian Thorne, Partner of Silas, stated, "We have tremendous respect for what Babba has been able to accomplish in such a short period of time. Having witnessed the incredible momentum of clean beauty through our investments in ILIA and Herbivore, we have strong conviction that Ceremonia will similarly transform clean hair care — a category poised for continued growth as consumers increasingly embrace scalp care as an essential aspect of their broader skin care regiment. As one of the first investments in our latest venture capital fund, we're thrilled to partner with Babba and champion a brand that is proudly rooted in the Latinx community."

Since launching, the company has unveiled a line of products that have been specifically developed to co-exist as part of a buildable routine created through Ceremonia's versatile approach to clean hair care. Beginning with the release of the company's initial hero product, Aceite de Moska, a scalp remedy oil inspired by the traditional Dominican Republic derived treatment, the brand has received an incredible response from their consumer and sold hundreds of units in a pre-order model in only their first week of sales. What's more is that with each product launch, Ceremonia is redefining industry standards for customer loyalty, as their impressive repeat rate continues to grow. With each product rollout, Ceremonia continues to be a category-leading brand in which the Latinx community and beyond can see themselves represented. In order to keep their promise, not only does the brand highlight this diversity in heritage, but also diversity in hair type––showcased by Ceremonia's popular styling serum Pequi Curl Activator.

The brand's Scalp Masajeador, a scalp massager that pairs well with both the remedy oil and newly launched Wash Day Shampoo & Conditioner duo, is currently the brand's fastest selling product. At launch, the Scalp Masajeador saw a tenfold increase in sales during its first weeks on the market, and is now the brand's most demanded item, along with Ceremonia's waitlisted Frida Headband, inspired by Frida Kahlo.

Martin Dolfi, Founder and CEO at Beliade, added, "Ceremonia's vibrant brand and clean formulations immediately appealed to us. Babba's focus on the historically underrepresented Latinx consumer segment, presents the company with a unique and large opportunity with the Ceremonia brand. We look forward to seeing what the future holds for this incredibly exciting clean beauty brand."

About Ceremonia
Ceremonia is here to celebrate the richness of Latinx culture, not only through its brand, but also through its original clean formulas. Featuring key natural ingredients from Latin America, Ceremonia prides itself in toxic-free formulas that offer the very best of high-performance, clean hair care. Free of silicones, parabens, sulfates, phthalates, and artificial colorants amongst 1600+ other not-so-great ingredients often found in conventional beauty. Bottling Latinx rituals into a modern and ethical brand, Ceremonia is embracing a new natural that is good for you and the environment. For more information, please visit ceremonia.com.

About Silas Capital
Since 2011, Silas Capital has been an active emerging growth equity and venture capital investor that partners with consumer brands. We not only invest capital to help these companies grow, but also bring significant resources and capabilities to actively assist in the growth of revenue through our expertise in e-commerce and digital expansion, alongside our knowledge of traditional wholesale and retail channels. Previous and current investments for Silas include Bare Snacks, Bellroy, Boll & Branch, Casper, Chief, Function of Beauty, HATCH, Herbivore, ILIA Beauty, Naadam, Lord Jones, Sakara Life, Something Navy, Summersalt and ZitSticka to name a few. Learn more at www.silascapital.com.

About Beliade
Beliade is an investment firm founded by former Creative Artists Agency executive Martin Dolfi, that invests in cutting edge consumer brands based in the US. Representative investments include Rhone, Kosas, Van Leeuwen Ice Cream, Something Navy, Poncho Outdoors, Coyo Taco, Foxtrot Markets, Heyday, Spiritual Gangster, La Ligne, BratTV, Recess, Made by Nacho, Cotopaxi, Coterie, Hill House Home, Rumble Boxing, Carbon38 and Jaanuu. Learn more at www.beliade.com.

Media Contact
Juliana Goldman, TGN
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SOURCE Silas Capital