The premium DTC clean haircare brand Vegamour announced an $80 million minority growth investment by General Atlantic.
WHO: Founded in 2016 by CEO Daniel Hodgdon, Vegamour is a plant-based hair wellness brand that incorporates a comprehensive range of naturally derived products to support healthy hair growth and wellness. All of Vegamour products are clean, vegan, and formulated with proprietary phytoactive ingredients clinically proven to help promote abundant and radiant-looking hair. Through its expanding line of topical serums, organically sourced supplements, and natural hair maintenance and scalp health products, Vegamour hopes to redefine the haircare category with its holistic, inside-out approach to hair wellness.
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.
WHY: The new funds will be used to further organic e-commerce growth, launch new products, and expand into new channels and geographies.
IN THEIR OWN WORDS: Hodgdon, a longtime advocate and producer of sustainably sourced, plant-based ingredients for the skincare and haircare industry, said, “After years of observing how things thrive in nature, it’s clear that when it comes to healthy hair, we should consider the body’s entire ecosystem. Hair wellness is impacted by so many factors—aging, stress, sleep, our environment and especially the things we put into and onto our bodies. At Vegamour, we’ve developed a 360° approach to hair health that seeks to address these issues and support a balanced physiological ecosystem conducive to healthy, beautiful hair. As we look ahead, we are excited to be partnering with General Atlantic and leveraging the firm’s deep expertise in helping beauty brands scale globally. We look forward to bringing continued product innovation to the market and making Vegamour accessible on a wider scale as we meet growing consumer demand for natural and sustainable beauty products.”
“Vegamour has been a leader in creating a new category in hair wellness and occupies a differentiated position in the marketplace as an efficacious, vegan and clean solution,” said Andrew Ferrer, Managing Director at General Atlantic. “In partnership with Dan and the Vegamour team, we are excited to accelerate the company’s growth and build upon its proven model.”
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