Beautycounter receives investment to support next stage of growth
Counter Brands, LLC, has announced that Mousse Partners Limited, a single-family venture-capital office, has made a strategic investment in Beautycounter.
Mousse Partners’ investment will support the clean beauty company in its next phase of growth, allowing the company to accelerate its strategic initiatives, which include developing a stronger omni-channel business. The capital will also be used to invest in digital and brand marketing, as well as technology.
Beautycounter also received investment from TPG Growth in this round of funding, a company which had previously invested in the beauty brand in 2014.
Parker Hayden, Managing Director and Head of U.S. Private Equity at Mousse Partners stated in a release, "We are thrilled to partner with Beautycounter and its talented management team to support their efforts to lead the safe ingredient movement within the beauty industry.”
Mousse Partners Limited is a family office, established in 1991, that makes a wide range of investments, in sectors such as private equity, venture capital, real assets, equities, and hedge funds. The company is based in New York and supports its partners with flexible long-term capital, as well as in-depth sector knowledge. The company also has offices in Beijing and Hong Kong.
Beautycounter was founded in Santa Monica, CA, in 2013 by current CEO Gregg Renfrew, and has made a name for itself in the clean beauty movement with its innovative skincare products and rigorous Ingredient Selection Process.
The brand also campaigns for greater transparency and accountability in the beauty industry and advocates for change in federal regulation. Its nearly 130 products, covering categories including skincare, color cosmetics and anti-aging, are currently distributed in the US through its e-commerce site as well as a network of retail partners and over 25,000 independent consultants.
With increasingly health-conscious consumers who also expect the brands they buy from to reflect their values, the clean beauty movement is gathering steam, and in September of last year, Counter Brands, LLC, Beautycounter’s parent company, formed Counteract Coalition, a group of 15 beauty brands which lobbies to update legislation regulating the cosmetics industry in the US.
Terms of the transaction between Mousse Partners and Beautycounter were not disclosed. Parker Hayden will join Beautycounter’s Board effective immediately.
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