Puerto Rican startup Beauty911 gets stateside capital investment
Puerto Rico-based, on-demand beauty startup, Beauty911, announced the recent investment by venture capital fund 305 Ventures in Miami, FL.
The company, which now has an undisclosed multi-million-dollar valuation, is positioned as one of the few companies on the island that have received off-island investment and plans to expand its services to the United States, and Latin America.
Officially founded in 2019 by Carmen Medina, a manicurist, and stylist with more than 10 years of experience in the beauty industry, and Afa Juste, a programmer, and Artificial Intelligence expert with experience developing algorithms for investment funds, have positioned the startup “as one of the fastest-growing technology platforms in Puerto Rico,” they said.
From 2021 to 2022, the startup experienced growth in monthly sales of 700%, in addition to expanding its services to three new cities and increasing the number of users and beauty experts on the platform.
“We want to thank the Bravo Family Foundation’s Rising Entrepreneurs Program. Thanks to their support and guidance we’ve had the opportunity to grow our startup and show investors that in Puerto Rico there is an incredible business ecosystem with global potential,” said Juste, co-founder, and COO of Beauty911.
The platform provides a varied menu of pre-paid beauty services options that fit the client’s needs, which are provided at their home, office, or event. With affordable prices starting at $45, users can book services from beauty professionals, including manicurists, hair stylists, and makeup artists, who bring the experience and convenience straight to the consumer’s doorstep.
“Our goal is to make Beauty911 the #1 on-demand beauty services alternative in the PR, US [mainland], and LatAm market. We want to become the Uber of beauty. Our team is highly motivated and ready to continue scaling to new markets in the U.S and beyond,” said Medina.
“We’re already preparing to begin fundraising for our next round of investment within the next few months and we want to call the investment funds of Puerto Rico that are interested in investing in our startup to contact us,” said Juste. “Most of our investment will be foreign but we have always wanted to integrate local investment, and this is the opportunity. No doubt Beauty911 will continue to climb until it becomes the first Puerto Rican Unicorn. That is our goal,” Juste said.
Leave a Comment