New Age-inspired skin care brand Herbivore has landed US$15m in funding from Silas Capital.
The venture and growth equity firm’s cosmetics portfolio includes skin care brands Dr Roebuck's, Evereden and Lord Jones.
Alex Kummerow, co-CEO of Herbivore, said the new investment will be used to expand manufacturing capabilities and increase brand awareness through digital and in-store marketing.
Herbivore specialises in ‘non-toxic’, therapeutic products and sells through 500 doors globally via retailers such as Nordstrom, Credo, Space NK, Carbon Beauty, Follain and Sephora.
“Having bootstrapped the business to date, we are eager to leverage this capital infusion,” continued Kummerow.
Julia Wills, co-CEO and Chief Creative Officer, added: “This is a tremendously exciting time for Herbivore.
“With Silas and Stage 1 Fund on board, along with our highly talented and growing executive leadership team and staff, we are well-positioned for strategic and meaningful growth as we continue to solidify our standing as a category leader in clean skin care."
Brian Thorne, partner of Silas, described his “tremendous respect” for the two entrepreneurs and said that the brand’s proposition of natural formulations and affordable luxury had earned it coveted status among consumers, influencers and investors.
He said: “Already one of the fastest growing skin care brands at Sephora, we look forward to strengthening that relationship, while amplifying the company's e-commerce business and sizeable Instagram presence.”
