Founders of movements. They are the visionaries who look at the world today and see a better tomorrow. They are the innovators identifying industries ripe for disruption and bringing big ideas to life. They are the leaders who are shaping what our everyday lives will look like in 10, 20, 50 years. These are the creative founders who inspired us to start True in 2005, and today we’re thrilled to announce our investment in Amy Errett and her team at Madison Color.
Amy Errett is an exceptionally talented and experienced Founder. With a multifaceted career that has ranged from senior management at E*Trade, to CEO of lifestyle company Olivia (where she was named the Ernst & Young Entrepreneur of the Year for Northern California), to General Partner at venture capital firm Maveron, Amy Errett has excelled at every turn. She is a born leader—her dynamic leadership style reminds us of Danny Shader of PayNearMe, another rock star in the True family of Founders. She has boundless energy, likely because she is, in her own words, a horseback riding, fly fishing, black diamond snowboarding, wine collecting, SF Giants loving Californian. And, most important to the entrepreneurial experience, Amy has the smarts to know when a particular industry is ready for a shake-up.
Which brings us to Amy’s new company, Madison Color, which announced their funding by True Ventures and Maveron this morning. Madison Color is reinventing the $3 billion home hair coloring business by producing a non-ammonia-based, professional-grade home hair color system that will be delivered directly to consumers on a subscription basis. In the U.S., over 40 million women (and millions of men as well) color their hair at home using drugstore kits that are toxic and full of chemicals: bad for the environment, and bad for people. They are also one-dimensional, relegating color choices to pre-fab formulas. Madison color is revolutionizing the home hair coloring experience by developing photo-based apps for color matching and an extensively trained call center, turning what is currently a terrible consumer experience into a consumer delight point, and bringing technology to a business that has thus far had zero innovation.
Amy’s vision is possible today because of the enormous wave of capital efficiency that continues to erode barriers across all industries. The ongoing force of web and mobile web is changing the way consumers experience and interact with the world everyday, and enabling software based startups to create new and valuable consumer experiences.
Madison Color has captured our imagination, and we couldn’t be more thrilled to be working with Amy. In addition to leading her Series A round, we have asked Amy to join the True team as a Special Advisor. We love working with visionaries and great leaders, and we are constantly inspired and motivated by the creativity and talent of Founders like Amy.
Amy and the Madison Color team, welcome to True!