Mad Rabbit Announces Series A Investment of $10M

Tattoo aftercare innovator and "Shark Tank" alum quadruples valuation to $56 million

Largest raise to date led by Lucas Brand Equity with Mark Cuban, Acronym Venture Capital, H Venture Partners and others participating

LOS ANGELES, March 22, 2023 /PRNewswire/ -- Mad Rabbit Tattoo, a leading brand in the tattoo aftercare industry, has announced the successful closure of a $10 million Series A funding round led by Lucas Brand Equity, with participation from Mark Cuban, H Venture Partners, and other notable investors. The funding round comes at a time when more investment is flowing into the tattoo space, with BIC's recent acquisition of Inkbox and L'Oreal's minority investment in Prinker Korea Inc.

Lucas Brand Equity (LBE), a private equity firm focused on the consumer industry, led the investment round and Ian Knowles, a partner at LBE has joined the Board of Mad Rabbit. Mark Cuban, an entrepreneur and investor best known for his role on the hit TV show "Shark Tank", also participated in the round, along with other well-respected investors.

"We are thrilled to have the support of such prominent investors, who believe in our vision and our commitment to providing the best possible aftercare products to tattoo enthusiasts," said Oliver Zak, CEO of Mad Rabbit. "This investment will allow us to continue to innovate and expand our product line, while maintaining our commitment to quality and customer satisfaction."

Mad Rabbit was founded in 2019 with a mission to create a brand that tattoo enthusiasts could trust. The company's products are made with natural ingredients and are designed to promote healing and prevent infections. Mad Rabbit has quickly become a favorite among tattoo artists and enthusiasts, and the company has seen rapid growth since its inception.

With the new funding, Mad Rabbit plans to expand its product line, increase its marketing efforts, and grow its team to meet the demand for its products. The company is committed to providing the best aftercare and daily tattoo skincare products to ensure that tattoo enthusiasts have the best possible experience.

Mad Rabbit was featured on ABC's hit show "Shark Tank" in 2021 where Zak and Agbitor secured an investment from Mark Cuban. Since then, the brand has accelerated in development and popularity, and is currently growing 138% year-over-year. Zak and Agbitor were also featured on the 2022 Forbes 30 Under 30 list for their continued innovation. Currently, Mad Rabbit sells one tattoo balm every 90 seconds and has helped preserve more than 3 million tattoos to date.

"I am thrilled to once again invest in Mad Rabbit and support its continued growth since their appearance on Shark Tank," said Mark Cuban. "The brand found a need that didn't have a sophisticated solution. I admire that foresight and ingenuity and am excited for the future of the company."

"This is our second investment in Mad Rabbit, having participated in the previous round, which of course is indicative of our belief in the management team and the business," said Ian Knowles, Partner at LBE. "I have worked closely with Oliver, Drew, Selom and the team over the past 18 months and they continue to prove their acumen as visionaries and business leaders. There is no other brand in the massive tattoo market delivering the range or quality of products and brand experience to consumers and professionals like Mad Rabbit is. Even at our early stage, Mad Rabbit is by far the most notable brand in the category and frankly, we're just getting started. I look forward to our exciting future and the work we have ahead of us as we venture to build Mad Rabbit into the number 1 brand in tattoo, globally."

The tattoo industry has been experiencing a surge in investment recently, with BIC's acquisition of Inkbox and Prinker Korea Inc.'s recent investment from L'Oreal being just a few examples. This trend highlights the growing popularity of tattoos and the increasing demand for high-quality tattoo products and services. Forty-four percent of the US population now has at least one tattoo – doubling the rate in less than ten years. In combination with the investment surge and consumer adoption for continued self-discovery, the tattoo industry is projected to grow globally by 9.43% by 2029.

Tattoo enthusiasts can look forward to even more high-quality products from Mad Rabbit in the future, thanks to the support of LBE, Mark Cuban, and other investors who share the company's vision for excellence. With its valuation having grown four times since 2021, Mad Rabbit is poised to continue its upward trajectory in the coming years.

The tattoo skincare brand now offers nine skincare products available online at madrabbit.com, verishop.com, vitaminshoppe.com and in store at 350 Urban Outfitters and 1,200 GNC locations as well as 350 tattoo shops nationwide.

About Mad Rabbit

Mad Rabbit's products have excited the tattoo community since 2019. Founded by two friends with a passion for ink, Mad Rabbit is a clean integrated skincare solution from preventative care, new tattoo aftercare, and daily tattoo skin essentials that support the long term health and vibrancy of tattooed skin. Mad Rabbit delivers results-driven skincare line designed to improve overall tattooed skin quality with an environmentally-conscious approach. Mad Rabbit was featured on "Shark Tank" in 2021 where they received an initial investment from entrepreneur, Mark Cuban. Since then founders Oliver Zak and Selom Agbitor have been included on the Forbes 30 Under 30 List, which recognized their ingenuity and success.

Press Contact: Carolyn Lowe | [email protected] 212.584.5668

SOURCE Mad Rabbit