Hair-Growth Startup Nutrafol Raises $35 Million in Series B Funding
April 02 2019 - 1:18PM
Dow Jones News
By Colin Kellaher
Nutrafol, a hair-growth nutraceutical startup, said Tuesday it
raised $35 million in a Series B financing round led by
consumer-focused private-equity firm L Catterton's growth fund.
Nutrafol, which offers nonprescription products aimed at
improving hair growth through drug-free natural ingredients, said
existing investor Unilever Ventures, the venture-capital arm of
consumer-products giant Unilever PLC (ULVR.LN), also participated
in the round.
The investment, at an undisclosed valuation, brings Nutrfol's
total funding to date to around $45 million, a spokesman said,
noting that the company's revenue run rate is approaching $100
million.
Nutrafol, which was launched in 2016, said it will use the
funding to further expand its personalized system, featuring new
targeted boosters for hair health that address deficiencies and
imbalances such as menopause, stress and gut health.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 02, 2019 13:03 ET (17:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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