Great Many, a New York City-based company focused on hair growth solutions, has announced the completion of its oversubscribed $3.6m pre-seed funding round, exceeding its initial $3m target. 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 Michael Pollak, Co-Founder of Heyday, and Steve Klebanow, a former Estée Lauder executive, Great Many aims to address hair loss through accessible, personalized services. The company's first growth studio, which opened in June 2024 in New York’s NoHo neighborhood, offers targeted treatments and products designed to help individuals manage hair loss.
The hair growth market has seen increased interest in recent years, driven by consumer demand for effective and evidence-based solutions. In a joint press statement, Pollak and Klebanow noted, "In the last decade, skin care and aesthetic treatments have become more accessible through various new concepts, from facial shops to med spas to cosmetic dermatology offices. We know how much hair matters to people, yet the space still leaves them confused, full of myths, and without a high-touch solution."
Beauty industry impact
The developments at Great Many are of particular relevance to cosmetics and personal care product manufacturers and suppliers. The company's approach reflects a growing trend in the industry toward specialized, science-backed hair care solutions, creating potential opportunities for collaboration in areas such as ingredient supply, formulation development, and innovative treatment technologies.
Great Many’s product line, GrowthFactor Formula, which includes the GreaterThan Shampoo, GreaterThan Conditioner, RootSupport Densifying Serum, and RootReset Scalp Treatment, is positioned within this trend. The products are priced between $34 and $49 and are formulated with clean, proprietary ingredients aimed at supporting scalp and follicle health while promoting hair growth. This aligns with consumer preferences for products that offer both efficacy and ingredient transparency.
"Hair loss is a deeply personal issue that affects identity, yet the market is flooded with overpromising products that often leave consumers disappointed," said Andrew Black, Founder and Managing Partner of BrandProject in a company press release. "Great Many offers a holistic solution, combining science-backed products and in-studio treatments supported by top medical hair experts."
As the industry shifts toward these consumer preferences, manufacturers and suppliers may find new avenues for innovation and market differentiation. The rise of digital health solutions, as seen with Great Many’s telehealth platform, also indicates a potential growth area for companies interested in integrating telemedicine into their service offerings.
Market size & competitor analysis
The global hair restoration market was valued at approximately $8.5 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% through 2030, driven by advancements in hair restoration technologies and increasing consumer awareness, according to market research firm Grand View Research. This growth presents a significant opportunity for companies like Great Many, which are leveraging both innovative products and comprehensive service models to capture market share.
Great Many faces competition from established players such as 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 differentiates itself by emphasizing non-surgical treatments and holistic hair health, appealing to a broader demographic that seeks less invasive options.
Additionally, companies like Hims & Hers and Keeps have gained traction by offering online telehealth consultations and prescription treatments for hair loss. 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 a proprietary product line positions it as a hybrid model that could potentially disrupt the market.
"PRP treatments, and future treatments Great Many will offer, will be a life-changing service for many men and women in NYC and across the country," remarked Lukas Keindl, Co-founder of BondVet and an investor in Great Many in a press statement. This focus on clinically-proven, minimally invasive treatments may enable Great Many to carve out a niche in the competitive landscape, particularly among consumers who prioritize evidence-based care.
A modern approach towards hair growth treatments
Great Many’s in-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 noted in the company's press release, PRP treatments are gaining traction as a clinically proven method for hair restoration. Great Many’s pricing strategy, offering these treatments at under $2,000 for three sessions, has the potential to set a new competitive standard in the industry.
The accessibility of such treatments could lead to increased consumer interest in advanced hair growth solutions, potentially driving demand for high-quality ingredients and devices used in these procedures.
Expansion & market influence
With the successful funding round, Great Many is positioned to expand its reach beyond New York City. The company’s telehealth platform is expected to facilitate remote consultations and access to prescription hair growth treatments for consumers across the United States. This expansion represents an opportunity for cosmetics and personal care product manufacturers to explore new distribution channels and direct-to-consumer models.
"Great Many is here to change the narrative around hair loss with their holistic one-stop-shop solution for people to receive comprehensive, science-backed products and in-studio treatments," added Black.
For cosmetics and personal care product manufacturers and suppliers, the growth of companies like Great Many highlights the importance of innovation, ingredient transparency, and adapting to emerging consumer demands. As the hair growth market continues to evolve, industry stakeholders will need to consider how to effectively respond to these trends to maintain competitiveness and meet consumer expectations.
