Skincare company Goddess Garden has raised another round of capital from mission venture capital firm Renewal Funds, which has backed brands like Seventh Generation (now owned by Unilever). The round follows the company’s Series A, also raised from Renewal, that enables the brand to double their distribution in 12 months.
WHO: Leaving careers in corporate America, Boulder-based Goddess Garden was founded by husband and wife duo Paul Halter in Nova Covington, CO, in 2004. Nova and Paul, influenced by the birth of their first daughter, Paige, who was allergic to the chemicals in traditional bath and cosmetic products, felt the skincare industry needed to change. Nova, with an herbalist background, and Paul, with a nutrition science degree, decided to develop safe skincare solutions. Today the products can be found in 22,000 doors such as Whole Foods, CVS, Walgreens, Kroger, Wal-Mart, Sprouts, Wegmans, and other natural-oriented retailers in the US and Canada.
Vancouver, British Columbia-based Renewal Funds is a mission venture capital firm investing in early growth stage companies in Canada and the United States.
WHY: The company is planning to use this round to fund more product development.
- Goddess Garden has closed a Series B round from Renewal Funds.
- Terms of the deal were not disclosed.
- According to BizWest the brand’s revenue topped $6 million in 2016 and is estimated to eclipse $10 million in 2017.
- The brand raised $2MM in a Series A from Renewal Funds in December 2016.
Photo: via goddessgarden.com