iNNBEAUTY Project closed a $12 million Series A funding round led by leading consumer investor Alliance Consumer Growth (ACG).
WHO: Skincare veterans Alisa Metzger and Jen Shane launched iNNBEAUTY Project in 2019 after identifying a void in the beauty space for clean, efficacious, and affordable skincare. The brand launched DTC and expanded with Credo in 2020. After a successful nationwide launch in-store and online with Sephora, consumers responded, fueling iNNBEAUTY Project towards 160% year-over-year growth and gaining the attention of Sephora. Now the brand is available in all 517 Sephora stores and Sephora online.
WHY: The fresh funding will be allocated toward supporting its exposure in Sephora, with plans to expand distribution to Sephora Canada's omnichannel operation in the first half of 2023. Capital will also be deployed toward growing brand awareness, supporting its Sephora relationship, bringing more innovative products to market and hiring key members of the team.
IN THEIR OWN WORDS: “Seeing our iconic products like Green Machine & Pimple Paste continue to engage new users in-store and on digital platforms is so rewarding as we look toward the new year,” said Alisa Metzger, co-founder of iNNBEAUTY Project. “While the bright packaging attracts audiences, it’s what’s in the bottle that drives captivating content and engagement. On top of that, the attractive price point is what keeps customers coming back and we’re so excited that ACG believes in our products as much as we do. With their support, we’ll be able to provide even more effective products to our customers.”
“It’s an exciting time for the clean beauty industry and we are proud to support iNNBEAUTY Project, which is leading the charge and raising the bar for others in the space by delivering truly best-in-class formulas at an unbelievable price point,” said Julian Steinberg, Managing Partner of ACG. “We look forward to working with the incredible management team to disrupt and democratize prestige skincare.”
“As the brand grows, we remain acutely focused on setting iNNBEAUTY Project apart through truly innovative, efficacious formulas with top-quality ingredients at an unmatched value,” said Jen Shane, co-founder of iNNBEAUTY Project. “Every aspect of how we approach a formula remains consumer focused to deliver a superior product & experience. Our patent-pending Retinol Remix is a great example of how we listened to our customers, who were desperately seeking a retinol option without the harsh side effects. Our goal with every product we develop is to change the skincare industry for the better with innovation & value while building a highly trusted brand with loyalty & longevity.”
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