Black entrepreneurs are consistently creating innovative brands that are disrupting the standard traditions of industries, and Nicole Gibbons — founder and CEO of Clare — is one of them.
Leading what’s said to be the only Black-owned paint brand in the U.S., the interior designer has spearheaded simplifying the process of paint shopping through technology.
Founded in 2018, Clare has found success within the paint industry and has received co-signs from the celebrity likes of Taraji P. Henson, who has previously highlighted it as one of her favorite Black-owned businesses.
In its latest feat, Clare has announced an $8 million Series A funding round led by Pendulum, a newly formed growth-stage fund, according to a press release shared with AfroTech.
“We are excited to lead Clare’s Series A and play a role in powering the company’s next stage of growth,” said Ron Mackey, managing director at Pendulum. “Consumers are constantly evolving and, taking from lived experience and deep industry expertise, Clare is leading the charge in how consumers can interact with their paint brands to create a more enjoyable and seamless shopping experience.”
Gibbons also shared a statement: “Pendulum has been an incredible partner from the start, believing in our mission, vision and business as our company continues to expand, and we are thrilled to have them on board to help guide us in this next phase of our journey.”
In addition to Pendulum, previous investors like First Round Capital also participated in the round.
Clare has been successful in how its tools help to tailor and customize the shopping experience. The brand is dedicated to customer satisfaction and with its recent funding, even more homes are going to be decked out to owners’ personal liking.
The press release discloses that the new funding will go toward “the company’s next phase of growth, including product expansions, scaled marketing efforts and growing the Clare team.”
“From day one our goal has been to make Clare the best place to buy paint and deliver a far superior customer experience than traditional paint retailers offer. With Pendulum as a partner and more capital resources we’re excited to bring focus to expanding our product assortment, continuing to innovate and driving business growth both on and offline,” Gibbons said.