The Co-founders of Mented Cosmetics, Amanda Johnson and KJ Miller, have become the 15th and 16th African-American women to raise US$1 million in venture capital ever, according to a report published by Forbes.
The duo were hoping to raise US$500,000 in pre-seed funding to grow their business, a make-up line aimed at women of color, but smashed their target as investor interest peeked. The round was led by early stage firm iSeed Ventures.
The company started trading in January this year, launching officially in March. The investment will help the pair expand their offer from nude lipsticks to eye palettes, as well as fund further marketing initiatives.
“Our customer is always clamoring for more,” Miller told Forbes. “Our end goal is that women of color feel prioritized in the world of beauty.”