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Hawthorne Raises $12 Million in Series B Funding

November 15, 2021 BeautyMatter
November 15, 2021
Hawthorne

Men's brand Hawthorne raised $12 million in a Series B funding round led by Coefficient Capital.

WHO: Launched in 2016 by Brian Jeong and Phil Wong, Hawthorne is a subscription-based model calibrated to replace products based on consumer usage and is built on the premise of personalized products using a simple questionnaire and algorithm that analyzes factors from body chemistry to lifestyle. In 2020, Hawthorne leaned into skincare and recently launched five products, which marked its entrance into the shave and hair-styling categories.

WHY: The new capital will finance Hawthorne's brick-and-mortar distribution expansion in Nordstrom stores, Nordstrom.com, and Canadian retailer SSense and SSense.com.

IN THEIR OWN WORDS: Brian Jeong, co-founder and CEO, said, "We've always been focused on making premium personal care products more accessible for men, and our expansion into Nordstrom is our next step in making our tailored formulas more available—both online and now in store."

He continued, "With our Series B, we've been focused on continuing to create new premium, top-of-the-line formulas for men like our recently launched Avocado Seed Thickening Hair Clay and our Papaya Enzyme Exfoliator, but more importantly make these products available to men through our online personalization flow and now also in store with our partnership with Nordstrom."

DETAILS:

  • Hawthorne has raised $12MM in a Series B round with a total of $22 million raised to date. The round was led by Coefficient Capital with participation by existing investor Imaginary Ventures.
  • Hawthorne declined to state specific revenue or sales growth figures, but Brian Jeong, Hawthorne co-founder and CEO, confirmed that brand sales are in the eight-figure range.
  • The brand raised $10.2 million in a December 2017 $2.2 million seed round and a recent $8 million round of funding, according to The New York Times. Investors include Founder Collective, Sinai Ventures, Comcast Ventures, Shana Fisher, Techstars NYC Accelerator, FJ Labs, Imaginary, run by Net-a-Porter founder Natalie Massenet, and Nick Brown, who at his previous firm invested early in companies like Goop.
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