BeautyMatter: Prelude Growth Partners Invests in dpHUE
Prelude Growth Partners has invested in dpHUE, a hair brand that specializes in keeping color fresh between salon visits.
WHO: Launched in 2011, dpHUE was founded by Donna Pohlad, who then partnered with Justin Anderson, a celebrity hair colorist with a mission to rethink home hair color with a more convenient root touch-up option than a salon visit every six weeks. In 2014 dpHUE made a pivot from home hair color, expanding to haircare products intended to maintain color between appointments. The brand is sold at Ulta, Sephora, on Amazon and dphue.com. The brand is not sold in salons, but dpHUE hairstylists can sell products and gain commission through the brand’s dpHUE Pro App.
Prelude Growth Partners was formed in 2018 by Alicia Sontag and Neda Daneshzadeh to invest in consumer companies. Sontag was formerly Global President of Beauty at Johnson & Johnson and had spent more than a decade at the Estée Lauder Cos. Inc., while Daneshzadeh was a partner at L Catterton. Prelude makes growth capital and value-added operating support to fast-growing, high-potential consumer brands. The firm looks to make investments of $5 million to $15 million in companies across branded consumer categories such as beauty, personal care, health & wellness, food, beverage, and pet, among others. Their portfolio includes 8 Greens, Summer Fridays, and Westman Atelier.
IN THEIR OWN WORDS: “Growth has definitely been exponential,” said Beth Spruance Bennett, Chief Executive Officer of dpHUE. “Our value proposition has never been more relevant or compelling.”
“Our vision [with the investment] is to help build out our team and invest behind marketing and innovation to drive growth and leverage this moment in time,” said Pohlad. “We’ve had a lot of stars line up to drive our business forward [this year].