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Brandless Raises $118 Million in Funding

August 13, 2021 BeautyMatter
August 13, 2021
Brandless

In an effort to accelerate its digitally native platform, Brandless raised $118 million in equity and debt financing.

WHO: Brandless is one of the world's fastest-growing omnichannel commerce platforms. The company's aim is for people to take better care of themselves, their families, and the planet by working with the best ingredients, partners, and customers to drive community-led innovation and validation. By focusing on collaboration over control, quality over packaging, and people over promotion, they are leading a movement that believes that making better choices should be simple and easy.

WHY: Brandless raised these funds to accelerate growth and to acquire more digitally native brands to expand its product portfolio. It will also help the company invest in its social influencer initiative so individuals "can advocate for their favorite products and monetize their social presence."

IN THEIR OWN WORDS: "We have millions of customers, thousands of new product requests, hundreds of products and categories and dozens of marketplace partners. And now, with Cydni [Tetro, CEO of Brandless] and her proven leadership, we have an unprecedented ability to realize this transformative multichannel vision," said James Clarke, Managing Partner and CEO of Clarke Capital. "We are committed to making it easy for people to make good choices when it comes to their health and well-being. Our acquisitions of better-for-you, digitally-native brands will expand our footprint."

“Clarke Capital is well known in the Consumer Packaged Goods (CPG) space, as they've taken companies from millions to billions," said Tetro. "The Clarke team understands how to successfully build and scale product portfolios in a technology-driven marketplace. They've been an incredible partner to Brandless, helping us expand our portfolio and strengthen our acquisition strategy to support companies who are committed to disrupting the status quo.”

“Brandless is transforming commerce by creating influence-as-a-service and democratizing access to better-for-you products," Tetro continued. "By uniting brands with a mission and micro-influencers through technology, we're creating a platform that makes everyone mission-driven and empowers them to be a force for good.”

DETAILS:

  • Brandless raised $118 million in equity and debt financing. The round was led by Utah-based Family Office Clarke Capital Partners, which acquired Brandless in 2020, and other corporate and institutional investors. Keystone National Group provided a senior debt facility.
  • Before shuttering in February 2020, the company raised around $290 million in total from investors, according to PitchBook. Less than six months after going out of business, the company returned with new leadership and an edited assortment of products. Clarke Capital Partners joined with Ikonifi to purchase the company's assets and relaunch Brandless.
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