Reason to Believe, formerly known as Keratin Cosmetic Sciences, is looking to raise more than $16 million from investors.
And so far, investors are responding.
A total of 50 backers have acquired some $15.33 million in a mix of debt, equity and options, according to an SEC filing.
The company, which lists its headquarters as 19 West Hargett Street in Raleigh, is looking to raise just over $16 million.
Its products are sold under the brand
The first close in the round took place last December.
Reason to Believe, or RTB, is led by CEO and founder Melisse Shaban.
“We believe in the goodness of science, the greatness of beauty and doing our part to create a better tomorrow for all,” she says at the Virtue website. “We just happen to be starting with your hair.”
According to a recent note about an appearance by Shaban at a Startup Grind event, Shaban’s company is “creating technology-based breakthroughs for the health of hair, skin, and nails that provide visible, transformational results.”
RTB is capitalizing on research developed at Wake Forest University.
- VIDEO: Watch Melisse Shaban at the Startup Grind event at https://www.youtube.com/watch?v=DZUEgZlXpEU
Shaban has more than 25 years of experience in consumer businesses. She at one time worked for The Body Shop.
Reason to Believe opened a manufacturing facility in 2016 in Winston-Salem.