Frustrated by a lack of haircare options catering to highly textured hair, Piersten Gaines founded Pressed Roots in 2020.
This visionary salon chain specializes in caring for and styling coils and kinks, offering a transformative experience that goes beyond haircuts and styling.
Inspired by her own journey and a deep understanding of the challenges faced by those with natural hair, Gaines has built Pressed Roots into a thriving business, breaking barriers in venture capital funding and spearheading a movement of empowerment and education within the beauty industry.
Strategic Growth and Investment
In the early days after Pressed Roots’ launch, she successfully raised approximately $500,000 in investment capital. This initial boost allowed her to lay a solid foundation for her burgeoning business.
A year later, in 2021, Gaines’ visionary approach and the salon’s growing reputation attracted an additional $2.5 million in investment. This influx of capital was instrumental in expanding Pressed Roots’ reach and enhancing its service offerings.
Breaking Barriers in Venture Capital
The road to success has not been without its challenges. In 2023, the venture capital landscape was particularly tough for Black entrepreneurs, with funding dropping to a mere 0.13 percent of total capital invested. Undeterred, Gaines persevered and achieved a significant victory by raising $3.1 million.
This round of funding included investors such as Slauson & Co and RevTech Ventures, as well as high-profile figures like Naomi Osaka, Howard Schultz, and Meg Whitman.
Financial Success and Expansion
The financial trajectory of Pressed Roots has been equally impressive. By 2022, the company was booking more than $2 million in annual revenue.
This figure rose to $3.5 million the following year, reflecting the growing demand for Pressed Roots’ services and the salon’s reputation for excellence.
As of March, Pressed Roots operated three stores, with plans underway to open a fourth location. This expansion is a testament to the salon’s popularity and the effectiveness of Gaines’ strategic growth plan.
Community and Education
Beyond its services, Pressed Roots is committed to community building and education. The salon regularly hosts workshops and events to educate clients on natural hair care, fostering a sense of community and empowerment among its clientele.
The Future of Pressed Roots
With Piersten Gaines at the helm, Pressed Roots is poised for continued growth and innovation. Her unwavering commitment to excellence and her strategic vision have positioned the salon as a leader in the beauty industry.
As Pressed Roots expands its footprint and continues to break new ground, it remains dedicated to its core mission: celebrating and caring for natural hair with expertise and passion.
