According to WWD, all-natural skincare brand, Herbivore, has just raised a US$15 million Series A investment – making it the first outside investment for Herbivore.
The investment was led by Silas Capital, a venture and growth equity firm, with participation from Stage 1 Fund, a consumer-based venture fund.
Herbivore was founded in 2011 by Alex Kummerow and Julia Wills, who started the indie skincare brand out of their own kitchen after deciding to purchase a DIY soap-making kit. Eventually, the duo started selling their products online and at farmers’ markets, before moving on to more mainstream retail channels.
"This is a tremendously exciting time for Herbivore,” Wills said. “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 skincare.”
Kummerow also added, “Having bootstrapped the business to date, we are eager to leverage this capital infusion to expand our manufacturing capabilities and increase brand awareness through digital and in-store marketing."
Herbivore offers a selection of therapeutic, non-toxic products that are known for their natural formulations and chic, yet simple packaging. The line of 35+ products range from skincare to bath and body, and they are available in over 500 retail locations globally, including Sephora, Space NK, Nordstrom, Credo, Carbon Beauty and Follain.