First, nail polish. Now, comes hair coloring.
Maveron announced today that it is backing Madison Color, a San Francisco startup that’s looking to upend the home hair coloring market. The Seattle venture capital firm, which in February backed Seattle cosmetics startup Julep alongside Andreessen Horowitz, should be very familiar with Madison Color.
The new startup is being led by Amy Errett, a Maveron partner who previously led the firm’s San Francisco office.
“Millions of women – and more than a few men – color their hair every day with an in-home experience that is complicated, unpleasant and unhealthy,” said Errett in a release. “We will introduce a new, innovative, convenient and healthy way to select, buy and apply products, completely transforming this experience from one of pain to delight.”
Madison Color plans to unveil its offering, which will be free of harmful chemicals, this fall. In addition to Maveron, True Ventures joined the $4 million round. As a result of the deal, Jon Callaghan of True Ventures is joining the board.
Madison Color estimates that the hair coloring marketing is worth $15 billion in the U.S., with more than 45 million women in the country coloring their hair at home.
Maveron is the venture capital firm started by Starbucks chairman Howard Schultz and former investment banker Dan Levitan.
