Divi Scalp & Hair Health – an award-winning brand with clean and science-backed products founded by entrepreneur Dani Austin – announced it has secured a minority investment from Norwest. The funding will drive international expansion, domestic scale in key metro areas, and continue to deepen the brand’s established relationships with key retailers, including Ulta Beauty, Ulta Beauty at Target, and Amazon.
Divi has been a cult favorite since launching in 2021, predominantly due to founder Dani Austin’s deep focus on product innovation and understanding of the consumer’s desires regarding scalp and hair health. Dani Austin and her husband Jordan Joseph Ramirez, who served as CEO and now holds the role of chairman, both plan to remain actively involved in the next chapter of the Divi story as the brand scales to a household name.
Sonya Brown, Norwest’s general partner and co-head of the firm’s Growth Equity team, will join the Board of Directors. Sonya and the Norwest team bring unique expertise in scaling strong founder-led brands into global powerhouse names, including Kendra Scott, Vuori, and Ritual.
Divi has debuted with its now-iconic Scalp Serum in 2021, which sold out in two hours and earned the brand almost $40M in revenue in its first year. And the first-of-its-kind hair and scalp health brand has expanded over the past three years, and today Divi offers a wide range of breakthrough, scalp-first products, including shampoos and conditioners, a treatment mask, and a record-breaking dry shampoo. Divi had launched at Ulta Beauty in late 2022, with immediate consumer praise and 5-star reviews. In July 2024, the brand also deepened that relationship, expanding its distribution to include all Ulta Beauty at Target doors.
KEY QUOTES:
“Founding Divi was deeply personal for me. I wanted to create something that truly made a difference. Welcoming Norwest into the Divi family is a huge milestone, and I’m both proud and excited about what’s ahead. Together, we are going to continue our focus on new product innovation while keeping our customer number one.”
– Dani Austin, the company’s founder
“Just as we remain focused on the efficacy of our ingredients and product formulations, we are also prioritizing assembling a team of industry veterans,” he said. “Dani and I believe that to execute well on the next chapter of our brand story, we must find people smarter than us in various areas of the business. Creating a dream team is a core focus for us moving into 2025, and Norwest and their industry relationships will be instrumental in helping us in this area.”
– Jordan Joseph Ramirez
“At Norwest, we are passionate about partnering with founders like Dani Austin, who are solving real problems for consumers. Dani transformed her personal journey with hair loss into a fast-growing, science-based product line focused on the skinification of scalp and hair health. She has also fostered an engaged community where members participate in discussions, provide feedback, share stories, and make authentic connections. We look forward to working with Dani, Jordan, and the Divi team on this next phase of growth.”
– Sonya Brown, General Partner at Norwest
