True Botanicals secures Series B funding from NextWorld Evergreen
Clean skincare brand True Botanicals announced on Wednesday the closing of a Series B investment from San Francisco-based growth equity firm NextWorld Evergreen. The financial terms of the deal were not disclosed.
True Botanicals is expected to use the funding to grow its retail footprint, while advancing its mission around social and environmental impact. The digitally native brand is currently available in beauty retailers including Nordstrom, Credo Beauty, and The Detox Market.
True Botanicals offers products that are certified 'Made Safe', the most rigorous and comprehensive ingredient safety certification available. Some of its highly coveted products include Chebula Active Serum and Renew Pure Radiance Oil.
The company's Series A round was led by Sonoma Brands Capital in partnership with Unilever Ventures, which supported the brand's growth over the last few years.
"We obsess over our customer's needs and desires, and they're why True Botanicals prioritizes innovation that is purely natural biocompatible and is backed by scientific proof to work at the highest level. We are so excited about our partnership with NextWorld, whose expertise in beauty, ESG, and omnichannel retail will support our next phase of growth and leadership towards a more sustainable future,” said Sandy Saputo, True Botanicals CEO.
"Our alliance with NextWorld is exactly the kind of values-based partnership that will expand our brand's mission to deliver the most luxurious and effective products that are safe for people and the planet,” added Hillary Peterson, True Botanicals founder.
As part of the investment, the company will now be led by an all-female board including Peterson and Saputo, alongside Tiffany Obenchain, NextWorld managing partner, Andrea Freedman, NextWorld operating partner, and Margarita Arriagada, founder of Valdé Beauty and former head of merchandising at Sephora.
NextWorld Evergreen has a focus on conscious consumer brands with representative investments including Credo Beauty, The Citizenry, Fellow Products, Smith Teamaker and Van Leeuwen Ice Cream.
"True Botanicals directly aligns with NextWorld's deep conviction in clean beauty. It is a very special brand that delivers on quality, modern luxury and proven efficacy and is led by a powerful and proven team of beauty executives. We are very excited to partner with Sandy, Hillary, Margarita and the broader True Botanicals team to accelerate the brand's growth,” said Obenchain.
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