Divi Secures Minority Investment from Norwest

Divi, the influencer-founded scalp care brand known for its clean, science-backed products, has announced a minority investment from Norwest Venture Partners, a prominent venture capital and growth equity firm. Terms of the deal were not disclosed.

Founded in 2021 by influencer Dani Austin, a three-time Forbes Top Creator, Divi quickly gained recognition in the beauty industry among those seeking solutions for scalp and hair health. “Founding Divi was deeply personal for me. I wanted to create something that truly made a difference,” Austin shared. “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.”

This investment comes as Divi continues to dominate the market with its unique focus on scalp-first products, a category it pioneered with the launch of its Scalp Serum, which sold out within two hours and generated almost $40 million in its debut year. Today, Divi’s product line includes a variety of treatments such as shampoos, conditioners, a treatment mask, and a bestselling dry shampoo.

Dani Austin, alongside her husband Jordan Joseph Ramirez, who transitioned from CEO to Chairman, will continue to play a significant role in guiding Divi’s strategic direction. “Just as we remain focused on the efficacy of our ingredients and product formulations, we are also prioritising assembling a team of industry veterans,” Ramirez commented. “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.”

Norwest, managing over $15.5 billion in capital and having invested in more than 700 companies, focuses on fostering growth in sectors ranging from consumer goods to healthcare. The firm’s investment in Divi underscores its commitment to supporting businesses that are poised for substantial growth and innovation.

Sonya Brown, Norwest General Partner and co-head of the Growth Equity team, will join Divi’s Board of Directors. Brown and her team at Norwest bring a wealth of experience in nurturing founder-led brands, having previously worked with companies such as Kendra Scott, Vuori, and Ritual. “At Norwest, we are passionate about partnering with founders like Dani Austin, who are solving real problems for consumers,” said Brown. “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.”

With this new investment, Divi is focused on entering international markets, expanding its presence in major metropolitan areas across the US, and strengthening ties with leading retailers such as Ulta Beauty, Ulta Beauty at Target, and Amazon.