Madison Color raises $4M in funding to 'reinvent' at-home hair color market
SAN FRANCISCO — Madison Color, a San Francisco-based company that is striving to reinvent the home hair care market and focuses first on home hair color through consumer-facing technology, has secured $4 million in funding, the company has announced.
Investment firm True Ventures led the funding round. Maveron LLC, a consumer-only venture capital firm, and angel investors also participated in the round. The company also announced the addition of True Ventures partner Jon Callaghan to its board of directors. Madison Color will debut in the fall of this year.
The hair care business is a $48 billion annual market and hair color alone represents a market of $15 billion, with more than 45 million U.S. women coloring their hair at home, the company stated.
Madison Color intends to reinvent the business, starting with producing and delivering products free of ammonia and other potentially harmful chemicals directly to consumers’ homes. Madison Color will also incorporate cross-platform technology including Web, mobile and tablet, with a goal of revolutionizing the home hair care experience.
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