Great Many, a New York City-based company specializing in hair growth solutions, has announced the closing of its oversubscribed $3.6 million pre-seed funding round, surpassing its initial goal of $3 million. The round was led by BrandProject, with participation from Midnight Venture Partners, Tonic Ventures, and several angel investors, including BondVet co-founder Lukas Keindl and SoulCycle co-founder Elizabeth Cutler.
Founded by Heyday co-founder Michael Pollak and former Estée Lauder executive Steve Klebanow, Great Many aims to combat hair loss through accessible, personalized services. The company’s first growth studio, opening in New York City’s NoHo neighborhood in June 2024, offers targeted treatments and products designed to help individuals manage hair loss.
The hair growth market has seen increasing interest in recent years, driven by consumer demand for effective and evidence-based solutions. In a joint press release, Pollak and Klebanow noted, “Over the past decade, skin care and aesthetic treatments have become more accessible through various new concepts, from facial salons to medical spas to cosmetic dermatology practices. We know how important hair is to people, but this area still confuses them, is riddled with myths, and does not offer them a comprehensive solution.”
Impact on the beauty industry
The developments at Great Many are particularly relevant to manufacturers and suppliers of cosmetics and personal care products. The company’s approach reflects a growing trend in the industry towards specialised, science-based hair care solutions and creates potential opportunities for collaboration in areas such as ingredient supply, formulation development and innovative treatment technologies.
Great Many’s GrowthFactor Formula line, which includes GreaterThan Shampoo, GreaterThan Conditioner, RootSupport Densifying Serum and RootReset Scalp Treatment, is positioned within this trend. The products range in price from $34 to $49 and are formulated with clean, proprietary ingredients designed to support scalp and hair follicle health while promoting hair growth, in line with consumer preferences for products that offer both efficacy and ingredient transparency.
“Hair loss is a deeply personal issue that impacts identity. Yet the market is flooded with products that overpromise and often disappoint consumers,” said Andrew Black, founder and managing partner of BrandProject in a company press release. “Great Many offers a holistic solution that combines science-based products and in-studio treatments performed by leading medical hair experts.”
As the industry converges on these consumer preferences, manufacturers and suppliers may find new ways to innovate and differentiate themselves in the market. The rise of digital health solutions, as seen in Great Many’s telemedicine platform, also points to a potential growth area for companies interested in integrating telemedicine into their service offerings.
Market size and competition analysis
The global hair restoration market was valued at approximately $8.5 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% through 2030, according to market research firm Grand View Research, driven by advances in hair restoration technology and rising consumer awareness. This growth represents a huge opportunity for companies like Great Many that are leveraging both innovative products and comprehensive service models to gain market share.
Great Many competes with established companies like Bosley and Hair Club, which have long dominated the hair restoration industry with their focus on surgical solutions and hair transplant services. However, Great Many sets itself apart by emphasizing non-surgical treatments and holistic hair health, appealing to a broader audience seeking less invasive options.
Additionally, companies like Hims & Hers and Keeps have gained traction by offering online telemedicine consultations and prescription hair loss treatments. These brands have popularized direct-to-consumer models, making hair loss treatments more accessible. Great Many’s combination of in-person consultations, advanced PRP treatments, and its own product line positions the company as a hybrid model that could potentially shake up the market.
“PRP treatments and future treatments that Great Many will offer will be life-changing for many men and women in NYC and across the country,” noted Lukas Keindl, co-founder of BondVet and investor in Great Many, in a press release. This focus on clinically proven, minimally invasive treatments could allow Great Many to carve out a niche in the competitive landscape, especially among consumers who prefer evidence-based treatments.
A modern approach to hair growth treatments
Great Many’s studio offerings include advanced treatments such as Plasma Hair Restoration (PRP), a non-surgical procedure that uses platelet-rich plasma to stimulate hair growth. According to industry reports mentioned in the company’s press release, PRP treatments are gaining traction as a clinically proven method of hair restoration. Great Many’s pricing strategy of offering these treatments for under $2,000 for three sessions has the potential to set a new competitive standard in the industry.
The availability of such treatments could increase consumer interest in advanced hair growth solutions and potentially drive demand for high-quality ingredients and devices for these procedures.
Expansion & Market Influence
With the successful funding round, Great Many is able to expand its reach beyond New York City. The company’s telemedicine platform is designed to provide remote consultations and access to prescription hair growth products to consumers across the United States. This expansion provides cosmetic and personal care product manufacturers with the opportunity to explore new distribution channels and direct sales models.
“Great Many is here to change the game of hair loss with our holistic, one-stop solution that provides people with comprehensive, science-backed products and in-studio treatments,” Black added.
For manufacturers and suppliers of cosmetics and personal care products, the growth of companies like Great Many highlights the importance of innovation, ingredient transparency and adapting to new consumer demands. As the hair growth products market continues to evolve, industry players must consider how to respond effectively to these trends to maintain competitiveness and meet consumer expectations.
