San Francisco-based K-beauty company Memebox has closed a $35 million Series D funding round that was led by Johnson & Johnson Innovation (JJDC), Inc. This brings Memebox, which graduated from Y Combinator in 2014, to a total financing of up to $190 million to date, with previous investors including Formation Group and Goodwater Capital.
Memebox was launched by CEO Dino Ha in 2012 as a beauty box focused on K-beauty. It pivoted to a direct-to-consumer e-commerce model when the curated box model began to lose steam. The brand has made another pivot, now focusing on Korean technology and data-driven consumer insights to launch brands across beauty categories. The company’s current portfolio of brands include I Dew Care, Kaja, Nooni, and Pony Effect.
“We want to build the next generation of personal care brands by leveraging Korean technology across beauty categories. We work closely with our strategic partners so that together we can imagine and create the next cult product,” said Memebox founder and CEO Hyungseok Dino Ha in a release. “That’s why we are excited about the investment by JJDC as we will leverage the company’s global capabilities and scientific expertise which will enable us to take a big step forward in our focus on innovation, R&D, and ultimately, reaching a global audience.”
Photo: via Memebox