Canadian skincare brand Three Ships Beauty secures $3.5 million investment

Canadian skincare brand Three Ships Beauty has secured a $3.5 million CAD financing round. 

Led by BDC Capital’s Thrive Venture Fund, with participation from strategic angel investors, the investment is expected to allow the award-winning brand to further expand into the U.S. market, invest in brand and growth marketing, and strengthen the team.

“This is huge for Three Ships and we’re just so excited,” said Connie Lo, co-founder of Three Ships Beauty. “Thanks to this funding from Thrive, we can expand our market reach and build more awareness around the products people already love. And with the right team in place, there’s no limit to what we can achieve together.”

“We’re so grateful for investors like BDC’s Thrive Venture Fund who not only believe in our mission but share our values,” added Laura Burget, co-founder of Three Ships Beauty. “We have great products that really work, and our customers love them. Now we can grow that awareness and make natural, effective skincare accessible to more people.”

Three Ships Beauty has become synonymous with natural-skincare innovation and efficacy. With a commitment to transparency and sustainability, every product is formulated with science-backed, plant-derived ingredients, free of fillers or chemicals, and packaged in 100% recyclable materials.

In 2023, the brand expanded its distribution to Whole Foods locations across North America, achieving a 65% growth in total revenue. Most recently, they launched the First Light Vitamin C + Caffeine Eye Cream, with one unit selling every 30 seconds on launch day.

Other products in their lineup include their hero product, Skin Hero Bio-Retinol Serum, and bestseller, the Dew Drops Serum.

Lo and Burget were listed in Forbes 30 Under 30 Class of 2022, as well as received the EY Entrepreneur of the Year in Ontario in 2022, and RBC Canadian Women Entrepreneurs of the Year in 2021.