Unilever Ventures leads Arey series A to build hair-longevity category
What's the deal? Arey, a hair-health startup targeting graying, has raised a series A led by Unilever VenturesDealroom has a profile for this one. Try Dealroom →, with participation from existing investors Female Founders FundDealroom has a profile for this one. Try Dealroom → and Greycroft. The amount was undisclosed. The company previously raised a $4 million seed round.
What's the endgame? Arey wants to build a new "hair longevity" category. Its topical products use a patented Mela-9 Complex — antioxidants, botanicals and a peptide — designed to support pigmentation and reduce oxidative stress. Core products range from $32 to $58 and include the Not Today, Grey supplement and To The Root serum.
Who's behind it? Chief executive officer Allison Conrad, former president of BlushingtonDealroom has a profile for this one. Try Dealroom →, founded Arey with Jay Small, her hairstylist of over a decade. "We started with gray, but the products help with much more than gray," Conrad says. "It's really hair health in general."
Why Unilever? The deal fits Unilever's push into hair aging, which includes its acquisition of supplement brand Nutrafol and investment in biotech firm ElixrBioDealroom has a profile for this one. Try Dealroom →. Arey didn't run a process before the round; it had a relationship with Unilever Ventures principal Izzy Hemington, who discovered the brand as a customer in 2022. Hemington has joined Arey's board.
Why now? Scientific backing has become a key selling point. Arey completed a six-month, randomized, double-blind, placebo-controlled study of 173 people, accepted for publication in the November issue of the Journal of Drugs in Dermatology . In it, 88% of participants in the active group saw less gray-hair growth, with a 13% decrease in gray hair versus a 10% increase in the placebo group.
Where the money goes: Arey plans to spend on research and development, clinical studies, hiring, consumer education, distribution and marketing. The eight-person company is exploring a brand ambassador and larger retail partnerships. It sells through Credo and ErewhonDealroom has a profile for this one. Try Dealroom →, but online subscriptions account for the bulk of its business.
The signal: Clinical proof is drawing capital. A 2025 XRC VenturesDealroom has a profile for this one. Try Dealroom → report found science-backed brands captured 26% of beauty and personal care venture funding in 2024, up from a 17% average over the prior five years, and traded at revenue multiples roughly 20% higher than peers. Arey is betting that data, not marketing, defines the next beauty category.
Image credit: Generated with Gemini
