Mayvenn enables Hair Stylists to sell products directly to their clients without the upfront costs and burdens of having inventory.

Mayvenn has raised $16 million in funding to-date, including a $3 million Series B round and a $10 million Series A. Cross Cultures Ventures participated in Mayvenn’s Series A along with other investors including Andreessen Horowitz, Trinity Ventures, Jimmy Iovine, Serena Williams, and Steve Stoute.

Cultural relevance: Most Mayvenn stylists are African-American female entrepreneurs, previously locked out of the value chain due to lack of access to capital and costs of inventory. Mayvenn allows them to recapture the value and build additional revenue streams.