Color cosmetics brand Makeup by Mario has raised $40 million from Provenance, a consumer-focused private investment firm, and Silas Capital, a growth equity and venture capital firm.
“The alignment and partnership that we feel with the Provenance and Silas teams is incredible,” said Alicia Valencia, global president of Makeup by Mario. “We couldn’t be more excited to leverage Provenance’s capabilities within the e-commerce channel, along with Silas’ past success within the color cosmetics category to further amplify the brand’s trajectory.”
The brand plans to leverage the investment to accelerate the expansion of its product assortment at Sephora in North America as well as abroad, augment the existing management team, and amplify its direct-to-consumer (DTC) business.
Makeup by Mario was advised on the investment deal by Threadstone Partners LP and Cooley LLP, while Perkins Coie LLP advised Provenance.
“Makeup by Mario is an incredible success story – one that we’ve been tracking since before its launch,” said Brian Thorne, partner at Silas Capital.
"With Mario's awarding-winning and transformative products, unmatched social media reach and true artistry authority, we believe this makeup artist-led brand is well-positioned to become a clear leader in the cosmetics category."
The brand was founded by Mario Dedivanovic, a world-renowned makeup artist who has built up a client roster that includes high-profile celebrities, dignitaries, royalty and world leaders. Today, he is sought after for his pioneering makeup techniques and is known as the world’s most-followed makeup artist.
Dedivanovic also runs an education platform called The Masterclass, where he shares his trade secrets that can help viewers replicate his looks and techniques.
Photo credit: Makeup by Mario
