Live Tinted has closed a Series A fundraising round of $10 million led by Monogram Capital Partners. Other investors are Unilever Ventures, Devonshire Partners and Silas Capital. The beauty brand has secured $15 million to date.
Founded by Deepica Mutyala in 2018, Live Tinted has sold 1 million units since launch. Mutyala’s rise began with a viral video; in 2015 she posted a tutorial YouTube clip on how to cover dark under eye circles with red lipstick, which has accumulated 10 million views. Mutyala proceeded to launch the brand with a multiuse corrector, Huestick, as she grew her community. The hero product quickly sold out and accumulated a 10,000-plus-person waitlist, according to the brand.
“My team and I are committed to creating solution-oriented products for a diverse community led by our consumers’ demand, and this investment will help us do just that, along with support further expansion with our retail partner, Ulta, and bring on additional executive hires to join our team,” Mutyala told WWD exclusively. “Live Tinted has important innovative launches in the works for the rest of 2023 and beyond, and we’re so grateful to be able to use this funding to spread the mission of Live Tinted wider.”
Mutyala’s focus has been on developing makeup and skin care goods for all skin types and tones. Along with accelerating retail growth at Ulta Beauty and implementing additional marketing and executive hires, Mutyala plans to use the new funds for product innovation and category expansion.
“When choosing who to partner with, Monogram looks to forward-thinking entrepreneurs and brands with a defined vision to create innovative and differentiated products for a diverse and ever-evolving audience. We believe Live Tinted is exactly that,” said Oliver Nordlinger, partner and cofounder of Monogram Capital Partners. “In our collaboration with Live Tinted, we will help champion the brand in its next phase of growth. We couldn’t be more thrilled about the partnership.”
Additional backers include Montage Ventures, which led the brand’s $3 million seed round of funding, as well as Halogen Ventures, Curate Capital and Fearless Fund.