Thirteen Lune, the inclusive beauty e-commerce platform founded by Nyakio Grieco and Patrick Herning, has raised 8 million US dollars in a seed plus investment round, with new participation from the BrainTrust Fund.
The latest round of investment will be used to drive Thirteen Lune’s omnichannel expansion in 2023, support brick-and-mortar and experiential retail, including its continued expansion into 600 JCPenney locations nationwide and open its own flagship store in Los Angeles. The platform also has plans to expand its private-label brand Relevant: Your Skin Seen.
Since its launch in 2020, Thirteen Lune has grown from an e-commerce destination featuring 13 foundational Black-founded brands to offering more than 160 beauty brands, 90 percent of which are BIPOC-founded, with the remaining 10 percent being from “ally brands”.
In 2022, the platform reported a strong 2022 performance, with the business seeing a 2,000 percent sales growth year-on-year, fuelled by its national in-store partnership with JCPenney Beauty and the launch of Relevant: Your Skin Seen.
Inclusive beauty e-commerce platform Thirteen Lune plots omnichannel expansion in 2023
Grieco, co-founder at Thirteen Lune, said in a statement: “As a 20+ year Black beauty entrepreneur, it’s an honour to shape the landscape of inclusive beauty, acting as an agent of change for BIPOC brand founders to receive recognition and opportunity.
“Our partners share Thirteen Lune’s mission to support diverse founders who have historically had fewer resources and opportunities to build a business and create generational wealth.”
Grieco and Herning launched Thirteen Lune in 2020, which included initial investments from Fearless Fund, Capstar Ventures, Sean (Diddy) Combs, Gwyneth Paltrow, Hannah Bronfman and Naomi Watts. This capital, with new participation from The BrainTrust Fund, led by Kendra Bracken-Ferguson and Lisa Stone, along with the initial seed round, together represents 12.5 million US dollars in total funds raised.
Herning, chief executive and co-founder at Thirteen Lune, added: “Since the launch of Thirteen Lune in 2020, we’ve proven that inclusivity and scalability are not mutually exclusive. "With a mission to inspire the discovery of BIPOC-founded brands for people of all colours and backgrounds, we enter 2023 continuing to lead with intention and authenticity that will position us to continue our growth and momentum.”