Three Ships Beauty – a Canadian-made effective, transparent, and
natural skincare brand – has raised a $3.5M CAD financing round led by BDC Capital's
new Thrive Venture Fund, with participation from strategic angel
investors.
TORONTO, May 8, 2024
/CNW/ - The award-winning brand will use the additional
funding to further expand in the US market, invest in brand and
growth marketing, and strengthen the team with strategic hires to
continue scaling retail and e-commerce growth.
"This is huge for Three Ships and we're just so excited," says
Connie Lo, co-founder of Three Ships
Beauty. "Thanks to this funding from Thrive, we can expand our
market reach and build more awareness around the products people
already love. And with the right team in place, there's no limit to
what we can achieve together."
"We're so grateful for investors like BDC's Thrive Venture Fund
who not only believe in our mission but share our values," adds
Laura Burget, co-founder of Three
Ships Beauty. "We have great products that really work, and our
customers love them. Now we can grow that awareness and make
natural, effective skincare accessible to more people."
"It has been truly remarkable to witness Three Ships Beauty's
impressive growth, expanding customer traction and recognition in
the North American market," said Mona
Minhas, Partner, Thrive Venture Fund. ''The company's
evolution to date, coupled with their steadfast commitment to
improving transparency and sustainability in the skincare industry,
fills us with anticipation for their next exciting phase of
growth.''
Three Ships Beauty has become synonymous with natural-skincare
innovation and efficacy. With a commitment to transparency and
sustainability, every product is created with science-backed,
plant-derived ingredients, free of fillers or chemicals, and
packaged in 100% recyclable materials.
In 2023, Three Ships expanded its distribution to Whole Foods
locations across North America and
achieved profitability with an impressive 65% growth in total
revenue. To start off 2024, they unveiled First Light Vitamin C +
Caffeine Eye Cream – one of their most highly requested products –
selling one unit every 30 seconds on launch day.
Connie and Laura were listed in Forbes 30 Under 30 Class of
2022, and received the EY Entrepreneur of the Year® in Ontario (2022), and RBC Canadian Women
Entrepreneurs of the Year (2021). Their appearance on CBC's
Dragons' Den further solidified their status as pioneers in the
Canadian entrepreneurial scene, garnering widespread national
attention.
ABOUT THREE SHIPS BEAUTY
Founded by Connie Lo and
Laura Burget, Three Ships Beauty has
become an effective, natural, sustainable skincare brand focused on
transparency and transforming the clean beauty space. From farm to
shelf, each product includes science-backed plant-derived
ingredients, no fillers or chemicals, and is housed in 100%
recyclable packaging. Better for the planet and better for the
skin, Three Ships promises to deliver uncomplicated skincare backed
by natural ingredients and real science. Their impressive products
and successful launches have led them to continuous product
sell-outs, including their 6x sell-out hero product, Skin Hero
Bio-Retinol Serum, and 8x sell-out bestseller, the Dew Drops Serum.
Continuously choosing upcycled ingredients, innovative packaging,
and a commitment to fulfill a circular economy, Three Ships has met
the standard of sustainable and eco-friendly skincare every step of
the way.
www.threeshipsbeauty.ca
About BDC Capital
BDC Capital is the investment arm of BDC, Canada's bank for entrepreneurs. With over
$6 billion under management, BDC
Capital serves as a strategic partner to the country's most
innovative firms. It offers businesses a full spectrum of capital,
from seed investments to growth equity, as well as fund
investments, supporting Canadian entrepreneurs who have the
ambition to stand out on the world stage. Visit bdc.ca/capital.
SOURCE Three Ships Beauty