Divi Receives Minority Investment from Norwest

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Dani AustinPR News Wire

Divi Scalp & Hair Health, founded by entrepreneur Dani Austin, has secured a minority investment from Norwest, a venture capital and growth equity investment firm. The investment will support international expansion, domestic scale in key metro areas and deepen Divi’s established relationships with leading retailers, including Ulta Beauty, Ulta Beauty at Target and Amazon. Sonya Brown, general partner and co-head of Norwest’s growth equity team, will join Divi’s board of directors.

Divi debuted with its scalp serum in 2021, which sold out in two hours and earned the brand almost $40 million in revenue within its first year. The brand then launched in Ulta Beauty the following year, and received immediate consumer praise and 5-star reviews. In July 2024, Divi expanded into all Ulta Beauty Target U.S. locations.

Brown says, “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.”

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Jordan Joseph Ramirez, Austin’s husband, and chairman of Divi, shares the same sentiment, “Just as we remain focused on the efficacy of our ingredients and product formulations, we are also prioritizing assembling a team of industry veterans.”

Ramirez continues, “Dani and I believe that to execute well on the next chapter of our brand story, we must find people smarter than us in various areas of the business. Creating a dream team is a core focus for us moving into 2025, and Norwest and their industry relationships will be instrumental in helping us in this area.”

Austin adds, “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.”

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