More Funding for Nutrafol

Nutraceuticals company Nutrafol has announced a $35 million Series B financing led by the Growth Fund of L Catterton with participation from existing investor, Unilever Ventures.

With the latest funding, Nutrafol will 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 further engage the scientific community to conduct and publish extensive research supporting the enhanced efficacy and benefits of its natural products and solutions. Furthermore, the funds will allow Nutrafol to continue its mission of education, growth and wellness, by expanding and amplifying its brand marketing, positioning and messaging to help a broader audience of people better understand their hair growth options and take control of their hair health, according to the company.

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. According to Nutrafol, since its inception, the brand has been adopted by more than 1,300 physicians, clinics and stylists across the country, grown revenues by 3x year-over-year, and received numerous accolades.

“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.”

Chris Roberts, a partner with L Catterton Growth Fund, called Nutrafol “a leading brand that is transforming the unique hair wellness category.”
“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.”