Odore, the London-based marketing specialist in all things beauty, has struck gold in a recent seed round, securing an impressive $5 million. Fuel Ventures, spearheading the investment, joined forces with undisclosed existing investors to back this innovative beauty tech company. Notably, in a previous pre-seed funding round, Odore received backing from renowned names like Blackfinch Ventures, SFC Capital, and esteemed angel investor and author, Alister Esam.
At the heart of Odore's success lies its exceptional product suite, empowering beauty brands to craft captivating online experiences, streamline operations, build loyal customer bases, and seamlessly integrate physical and digital marketing efforts. From product sampling to metaverse campaigns and cross-channel digital activations, Odore's solutions have become a game-changer in the industry. Crucially, by harnessing zero-party data, brands retain full control over their retargeting and customer engagement strategies, unlocking new levels of personalization and effectiveness.
Shiv Patel from Fuel Ventures expressed utmost enthusiasm for Odore's approach, stating, "From the platform experience to the robust suite of tools and the seamless blending of digital and physical, everything is tailor-made for the brands, resulting in unparalleled user experiences and enduring partnerships with world-leading brands." The startup's rapid expansion and impressive financial traction have Fuel Ventures excitedly looking forward to the next phase of Odore's journey.
With a clientele boasting the entire L'Oreal Group, including prestigious names like Armani, Lancome, and YSL, along with Dior, LVMH, and Shiseido, Odore has made significant waves in the beauty industry. Not only has the startup achieved a remarkable Net Dollar Retention (NDR) rate exceeding 320% in the past year, but its recurring revenue has also surged threefold over the last 12 months.
In the fast-evolving world of beauty marketing, Odore stands as a beacon of innovation and success. Armed with fresh investment and backed by an impressive client base, this London-based beauty tech specialist is undoubtedly poised to reshape the beauty industry landscape.