LONDON — Iris Ventures has made a multimillion-dollar minority investment in Goddess Maintenance Co., a biotech beauty company that develops solutions to promote the long-term health and vitality of hair.
Goddess, which is targeted at salon professionals, was cofounded by four entrepreneurs. Two of them, Denise Russell and Edward Connaghan, are beauty investors and were instrumental in building the Olaplex and K18 businesses. The others are sisters Lauren Vesler and Manda Mason, cofounders of W Nail Bar, an Ohio-based chain of nail and beauty salons.
Goddess cofounders have developed and trademarked a new hair category called “bioprotection.” Their products contain the proprietary Goddess molecule, which is meant to strengthen the natural structure of hair, defend it against environmental and chemical damage and preserve its long-term vitality.
Developed with the biomaterials innovation company Bolt, the Goddess formulation emulates the properties of spider silk, which is known for its strength and flexibility. The formulation is meant to create scaffold-like structures that wrap around strands and penetrate the hair cuticle and cortex for inside-out protection and repair.
In an interview alongside her cofounders, Russell said the formula creates a “chain mail”-style protective effect that also cuts down on styling time, makes hair more manageable and helps salon finishes last.
The company debuted its first product, BioTech Blowout Leave-in Restorative Mask, earlier this year and has already established a global footprint across more than 100 countries, with a strong presence in professional salons.
Vesler, chief executive officer of Goddess, said the company had not been actively seeking investment, but wanted to partner with Iris due to its “deep knowledge of beauty, commitment to innovation and belief in our mission to pioneer bioprotection in hair care.”
She said Iris’ “unique know-how of the industry, track record, passion and conviction in what we’re building created the perfect opportunity to scale our vision globally.”
The investment will go toward accelerating Goddess’ pipeline of innovation, expanding its salon partnerships and extending its worldwide presence.
Iris is a global consumer growth investment firm, which partners with founder-led brands across beauty, wellness and lifestyle. Its investments include brands that promote long-term health, wellness and quality of life.
Its portfolio includes Maurten, a sports nutrition company; Olistic, which helps prevent hair loss and promote hair growth and health; Healf, a platform and retailer for health and well-being products, and Superlativa, supplements for women that help with stress and anxiety relief and hormonal balance.
Iris is now launching its second fund, targeting 200 million euros.
Montse Suarez, founder and managing partner at Iris, said Goddess is at the forefront of science-led beauty, “delivering a true breakthrough and creating an entirely new category in professional hair care — bridging the gap between repair and maintenance. With their proprietary molecule, deep salon-first roots and global ambition, they’re unlike anything we have seen in the market.”
Marc Calzada, investor at Iris, said Goddess’ “visionary leadership and magnetic brand identity are redefining the industry. The founding team is an absolute powerhouse — with the drive, expertise and bold vision needed to lead the future of professional hair care. We are thrilled to be part of their journey.”
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