The incubator, which was founded in 2020, has raised $12 million from KD Capital. The firm has previously invested in OkCupid, ShopRunner, Spot Hero and Teleon Health, among other companies, according to its website.
“We’re quite different from brand incubators in the beauty space. You generally get ones that are either manufacturing-focused or investment-focused. We have a holistic offering of what we can do,” said Oli Goulden, who cofounded FounderSix with Pieter Wittgen. “With the money now being there to launch these brands and get them to a certain level, we can build an infrastructure, do the branding, product development, legal, fulfillment. We make it easy for the people we partner with to be entrepreneurs.”
The incubator’s three brands launched in rapid succession. Goulden said with the new investment, they hope to see more brands on the horizon. “We’ve focused on these three brands for now and the next round of investment allows us to open up,” he said. “We don’t have contracts in place with new influencers yet, but this is stage one.”
FounderSix’s third brand launch, Ravie, a makeup brand founded by YouTuber Allie Glines, hit its first-year sales target within 30 minutes of launching.
FounderSix aims to partner with influencers who take a hands-on approach. “We’re very careful to have founders that are passionate about the category they’re in, and also experts. Lauren [Perez] has been on trichologist calls, and has been making hair oils for a long time. For me, it’s about authenticity and passion because business is touch, and only the strongest survive,” Goulden said.
As for the existing brands, Anablue focuses on hair care, while TikToker Alex Renee’s Ary World also touches on makeup. Goulden sees opportunities in every beauty category. “Different areas are more saturated than others, but it depends on the partners we work with, and what we look for in the launch,” he said. “We believe there’s room in every category still.”
Industry sources estimate that combined, the existing brands will reach between $15 million and $20 million in first-year sales.
“Our investment in FounderSix is a testament in our trust in Oli and Pieter’s leadership,” said Lewis Cheng, managing partner of KD Capital, in a statement. “Their guiding principle of investing in people, not just ideas, resonates deeply with us. Both have a fantastic talent for creating exciting new brands from scratch and their proven track record makes us very excited to support their vision into the future.”