Divi secures minority investment from Norwest

Scalp care brand Divi, featuring clean, science-backed products founded by entrepreneur Dani Austin, has secured minority investment from venture capital and growth equity investment firm Norwest for an undisclosed amount.

In a statement, Divi said the investment would be used to fuel international expansion and domestic scale in key metro areas in the US and continue to deepen the brand's established relationships with key retailers, such as Ulta Beauty, Ulta Beauty at Target, and Amazon.

Commenting on the investment, Dani Austin, the company's founder, said: "Founding Divi was deeply personal for me. I wanted to create something that truly made a difference.

"Welcoming Norwest into the Divi family is a huge milestone, and I'm both proud and excited about what's ahead. Together, we are going to continue our focus on new product innovation while keeping our customer number one."

Austin founded Divi in 2021, influenced by her own experience with postpartum hair loss. When it debuted its signature ‘Scalp Serum’ it sold out in two hours and earned the brand almost 40 million US dollars in revenue in its first year.

The brand now offers a range of scalp-first products to promote healthy and happy hair, including a new dry shampoo product alongside shampoos, conditioners, and treatments. The price point for its products ranges from 20 US dollars for the shampoos and conditioners to 136 US dollars for the 3-month supply of the best-selling hair serum.

Sonya Brown, general partner at Norwest, added: "At Norwest, we are passionate about partnering with founders like Dani Austin, who are solving real problems for consumers.

"Dani transformed her personal journey with hair loss into a fast-growing, science-based product line focused on the skinification of scalp and hair health. She has also fostered an engaged community where members participate in discussions, provide feedback, share stories, and make authentic connections. We look forward to working with Dani, Jordan, and the Divi team on this next phase of growth."

Austin and her husband, Jordan Joseph Ramirez, who served as chief executive and now holds the role of chairman, both plan to remain actively involved in the next chapter of the Divi story as the brand scales to a household name.