Herbivore Raises $15 Million

Herbivore, a cult-favorite prestige skincare brand, has received a $15 million Series A investment led by Silas Capital, a venture and growth equity, with participation from S1 Fund, a newly formed consumer focused venture capital firm.
           
Founded in 2011 by Alex Kummerow and Julia Wills out of their Seattle kitchen, Herbivore offers an assortment of non-toxic, therapeutic products crafted with a minimalist aesthetic. Its line of 35+ SKUs ranges from skincare to bath & body, formulated with pure, active, highly concentrated vitamins, minerals and botanicals. The company currently sells through more than 500 doors globally, including prominent retailers such as Nordstrom, Credo, Space NK, Carbon Beauty, Follain and the industry leader, Sephora—where it launched in 2015. Herbivore now represents one of Sephora’s fastest growing and most productive skincare brands.
 
Co-CEO Kummerow expressed his excitement about the new partnership and the growth prospects for the business. “Skincare was the initial category to embrace clean beauty, and Herbivore was one of the original brands helping to pioneer that movement. Having bootstrapped the business to date, we are eager to leverage this capital infusion to expand our manufacturing capabilities and increase brand awareness through digital and in-store marketing.”
 
“This is a tremendously exciting time for Herbivore. With Silas and S1 Fund on board, along with our highly talented and growing executive leadership team and staff, we are well-positioned for strategic and meaningful growth as we continue to solidify our standing as a category leader in clean skincare,” added co-CEO and chief creative officer Wills.
 
Silas focuses on category leading brands within the emerging growth segment of the consumer landscape. The firm not only invests capital to help these companies grow, but also brings significant resources and capabilities to actively assist in company growth through their expertise in e-commerce and digital expansion, alongside their knowledge of traditional wholesale and retail channels. Current investments include Ilia Beauty, Hatch, Boll & Branch, Bellroy, Casper, Naadam, Summersalt and Lord Jones.
 
Brian Thorne, partner of Silas, stated, “Herbivore's 100% natural formulations uniquely marry tangible results and sensorial luxury at an accessible price point—a proposition that has earned the brand its coveted status among consumers, influencers, retailers and investors alike. Already one of the fastest growing skincare brands at Sephora, we look forward to strengthening that relationship, while amplifying the company's e-commerce business and sizeable Instagram presence.”
 
Jeremy Triefenbach, partner of S1 Fund, added, “We're excited to further reinforce our partnership—as Herbivore is one of the initial investments of our recently launched venture capital fund. We believe that the business has tremendous upside and look forward to continuing to help Alex and Julia meet the insatiable consumer demand for their products.”