Mielle Organics has announced it has received a “significant investment” from Berkshire Partners.

Without disclosing the exact amount, the press release states, “Berkshire typically makes equity investments of $100 million to $1 billion in size.”

Company co-founders Monique, CEO, and Melvin Rodriguez, COO, will continue to be majority owners and maintain control of the company. The financing will support Mielle’s growth plans and help further its mission as a black-owned buisness to educate and empower, the company says. (The brand recently debuted a video series, Know Your Roots.)

The investment marks a major milestone. Only 93 Black women founders have secured $1 million in investment funding for their companies, according to Project Diane, a biennial report on the state of Black and Latinx women founders.

Monique Rodriguez says, “We are excited to forge this historic partnership with Berkshire Partners. Their investment reinforces our mission for community development and growth of our vision of global expansion.”

Melvin Rodriguez adds, “We started this business in our garage, sparked by Monique’s passion to build a worldwide community of women. During the past seven years, we’ve been able to expand our product lines, increase our distribution and invest in our community—we are excited to continue innovating and developing new products, grow awareness of Mielle, and reach even more consumers to give them products that they deserve.”

Last year, Mielle saw category-leading growth rates, despite the challenges of the pandemic. Part of the funds will be used to support Mielle’s More Than a Strand Program. 

Marni Payne, managing director at Berkshire Partners says, “Mielle is an extraordinary business, but importantly has a larger purpose: to excite, empower and serve the community. Monique and Melvin have built this business from the ground up; we share their vision and are excited to support them as they continue their journey of growth and community.”

Richelieu Dennis, founder of the New Voices Fund, Essence Ventures, and Sundial Brands, also commented:

“When my family and I sold Sundial Brands in 2017, one of our stated missions was specifically to invest at least $100 million in women of color entrepreneurs through the New Voices Fund and other efforts; our vision was that when given the opportunity, Black women entrepreneurs will bring transformative wealth creation to their families and our communities. What Monique and Melvin are accomplishing with Mielle is a powerful example of the impact a successful and purposeful Black woman-owned business can have in driving economic impact to our community.”

Dennis adds, “This is what creating equity and closing the wealth gap looks like – us investing in us so that there are not just a few of us, but thousands of us creating generational wealth to reinvest in our communities.”