The men’s grooming label will put the money towards product innovation, e-tail expansion and growing brand awareness
Cleverman was launched in 2021 by P&G and Revlon veteran Carlos Barreto
Launched in 2021 by Carlos Barreto, a veteran of Procter & Gamble and Revlon, Cleverman is aimed at millennial men looking to reduce signs of ageing.
Its hair and beard dye products come in more than 10,000 combinations of formulas generated via a three-minute quiz; Cleverman’s dye kits ($18.95) also come with hair and beard care, applicators and tools, which work together to restore the look and health of hair.
The funding was led by L’Attitude Ventures, a venture capital firm that invests exclusively in early-stage, US Latina- and Latino-led companies, supported by Fab Co-Creation Studio Ventures and angel investors.
New York-based Cleverman said it would put the funds towards investment in research and product development, e-tailer expansion and boosting brand awareness.
“We are absolutely ecstatic to have such an incredible team of investors join us for our seed round,” said Barreto, Cleverman’s CEO.
“Their support will be instrumental in taking Cleverman to the next level, and we couldn’t be more confident in our ability to succeed.”
He added: “Our lead investor, L’Attitude Ventures, is a rock-solid VC firm with an impressive array of expertise across many sectors.
“With their focus on empowering the Latinx entrepreneurial community, we are thrilled to have the L’Attitude team on board, and eager to take advantage of their expertise to help Cleverman soar to new heights.
“As a proud Latino founder, I’m delighted to see Cleverman continue to grow and thrive.
“Our journey has been nothing short of amazing since we sold our first product two years ago.
“With our recent funding, I’m excited to see what the future holds for Cleverman and can’t wait to see us take flight to even higher levels.”