Three Ships Beauty Raises $2.5M

Three Ships Beauty has raised $2.5 million, led by BDC Capital's Thrive Venture Fund and strategic angel investors.

The brand expanded into Whole Foods stores in North America in 2023 and became profitable, in part due to a 65% revenue increase, according to Three Ships Beauty.

Most recently, the brand launched First Light Vitamin C + Caffeine Eye Cream, which reportedly sold one every 30 seconds on launch day.

"This is a huge deal for Three Ships Beauty and we are very excited," said Three Ships Beauty co-founder Connie Lo. "With this funding from Thrive, we can expand our market reach and increase awareness of the products people love. With the right team in place, there's no limit to what we can achieve together."

Laura Burget, co-founder of Three Ships Beauty, added:"We are extremely grateful to investors like BDC Thrive Venture Fund who not only believe in our mission, but share our values." "We have great products that really work, and our customers love them. Now we can raise this awareness and make natural, effective skin care available to more people."

Mona Minhas, Partner at Thrive Venture Fund said:"It's been amazing to witness Three Ships Beauty's impressive growth, expanding customer traction and recognition in the North American market." "The company’s growth to date, coupled with their strong commitment to increasing transparency and sustainability in the skincare industry, makes us excited for their next exciting phase of growth."