Candace Mitchell’s passion for computer science has driven her to secure millions in funding for black hair care.
Forbes reveals that Mitchell’s journey into computer science began at the age of 10 when she first explored installing software on her family’s computer.
“I recall thinking that one day I want to create software that runs on millions of computers just like this,” Mitchell said in an interview with Forbes.
Her interest led her to study web design in high school, and she furthered her education at the Georgia Institute of Technology, where she earned a degree in computer science. After working in IT roles at Siemens and Pepsi, Mitchell decided to pivot from corporate employment to entrepreneurship.
With only $1,000 in her account, she founded Myavana, a platform that merges her tech expertise with the haircare needs of black women. According to the company’s website, users can upload a selfie to analyze their hair texture and, for a one-time fee of $9.99 or a monthly subscription of $8.99, receive AI-driven product recommendations.
This service aims to reduce the frustration of finding suitable hair products and save customers money by avoiding unsuitable products.
“What fascinated me was the realization that each person’s hair has a unique combination of texture and condition. You’re more than just a 4C or wavy hair; there are numerous factors at play, including external elements like weather, seasonal changes, hormonal fluctuations, and even your mood that day,” she shared in an interview with Forbes. “So many factors influence how we present ourselves and how our hair responds to the environment. That’s when the idea struck me: I could develop an algorithm that aligns the variables in your hair with the right products, eliminating the need for trial and error. And that idea became my passion project.”
Myavana has made significant strides in the market, particularly among black women, who represent 80% of its customer base. The Myavana AI app boasts 50,000 subscribers, and the company recently partnered with Ulta Beauty, integrating its AI hair analysis technology into Ulta’s e-commerce platform.
By the end of 2024, Myavana is projected to generate over $10 million in revenue, according to Forbes. Its valuation has risen to $50 million, a $30 million increase since 2021, following a $5.9 million funding round led by Ulta Beauty and supported by Amazon, H/L Ventures, Reform Ventures, and New Age Capital.
“This company is experiencing rapid growth and gaining significant momentum,” Oliver Libby, managing partner at H/L Ventures, informed Forbes. “With the data available, especially the chemical analysis of hair, there’s potential for Myavana to expand into a health division in the future.”
Mitchell noted: “We’re in a perfect market moment, but it all started 12 years ago.”
