Nutrafol closed a $35 million Series B round financing led by the Growth Fund of L Catterton with participation from existing investor, Unilever Ventures. Launched in 2016, Nutrafol takes an integrative approach to hair wellness pioneered in nutraceutical science with natural formulations that address various hormonal, environmental, and hereditary causes that compromise hair health.
Nutrafol will use this funding t0 further scale its personalized system, featuring new targeted boosters for hair health, which address deficiencies and imbalances including menopause, stress, and gut health. The investment will also allow Nutrafol to continue research, education, and amplification of brand marketing.
“As Founders, our vision for Nutrafol—born out of personal experience—has always been ambitious, yet simple: to foster a holistic philosophy of hair wellness and promote the idea of hair growth, not loss, to those who experience hair concerns,” said Nutrafol co-founder and CEO Giorgos Tsetis. “We are thrilled that L Catterton is leading our latest investment round. With L Catterton’s partnership and the support of our existing investors, including Unilever Ventures, we will continue realizing our vision by expanding our global brand, innovating and scaling our portfolio of personalized solutions, and amplifying our position as pioneers in the market.”
“Our team is proud to partner with a leading brand that is transforming the unique hair wellness category,” said Chris Roberts, Partner, L Catterton Growth Fund. “At a time when incumbents in the space are marketing existing solutions, Nutrafol is pursuing a radically different way of thinking to achieve its vision and drive innovation in the hair and beauty industry. Utilizing new scientific research, Nutrafol is driving the conversation on an integrative approach and has tremendous promise to change the way consumers think about hair health. We look forward to working alongside the strong management team to scale the company and realize the full potential of the brand.”
“Since our initial Series A investment, in early 2017, Nutrafol has consistently demonstrated its ability to shift the paradigm of how consumers approach thinning hair and support their growing demand for better, healthier choices free from side effects,” said Stephen Willson, Director, Unilever Ventures.” Staying true to its mission, Nutrafol’s expanded and personalized product offerings are a landmark step in its journey towards addressing critical gaps in the market today and for the foreseeable future.”
Eighty million Americans are affected by hair loss. By the age of 35, two-thirds of men will experience some degree of hair loss, with the number hitting approximately 85% by the age of 50, according to the American Hair Loss Association. Women constitute roughly 40% of American hair loss sufferers. All this represents a $3.5 billion dollar industry
