This week, the brand announced that Boston-based firm Berkshire Partners has made a significant investment in the company that will help finance its future growth plans and continue the brand’s mission to “educate, empower, and excite Mielle’s customers and the broader hair care community,” a press release shares.
“We are honored to invest behind Monique and Melvin and in Mielle,” Berkshire Partners Managing Director, Marni Payne said in a statement. “Mielle is an extraordinary business, but importantly has a larger purpose: to excite, empower and serve the community. Monique and Melvin have built this business from the ground up; we share their vision and are excited to support them as they continue their journey of growth and community.”
According to a press release, the new investment will also support Mielle’s $1 million More Than A Strand campaign — an extension of the brand’s mission to strengthen the bond between mothers, daughters, and young girls across the U.S., Caribbean, and Africa.
As a result of the investment, company co-founders Monique and Melvin Rodriguez (CEO and COO, respectively) will maintain their titles as majority owners with control of the company.
“We are excited to forge this historic partnership with Berkshire Partners,” said Mielle Organics CEO and co-founder Monique Rodriguez in a statement. “Their investment reinforces our mission for community development and growth of Mielle’s vision of global expansion. We are also thrilled to continue this journey with New Voices. They believed in Mielle from the beginning and have truly been a great partner. These are the types of steps it takes to create generational wealth and jobs for people of color. We are truly grateful for their partnership.”
This investment marks a major milestone for Ms. Rodriguez’s brand as she’s one of only 93 Black women founders that have secured $1 million in investment funding for their companies, according to biennial report ProjectDiane.
Mielle Organics’ historic investment deal with Berkshire also proves that Ms. Rodriguez is helping to pave the way for Black women-led companies to break glass ceilings and surpass expectations for women founders of color.
“We started this business in our garage, sparked by Monique’s passion to build a worldwide community of women,” Melvin Rodriguez said in a statement. “During the past seven years, we’ve been able to expand our product lines, increase our distribution and invest in our community; we are excited to continue innovating and developing new products, grow awareness of Mielle, and reach even more consumers to give them products that they deserve.”
For more information about Mielle Organics and its future endeavors, visit its website.