Nutrafol, a NYC-based nutraceutical brand focused on improving hair growth performance with drug-free, natural ingredients, raised $35m in Series B financing.
The round was led by the Growth Fund of L Catterton, with participation from existing investor Unilever Ventures.
The company intends to use the funds to further:
– scale its personalized system, featuring new targeted boosters for hair health, which address deficiencies and imbalances including menopause, stress and gut health,
– engage the scientific community to conduct and publish extensive research supporting the efficacy and benefits of its natural products and solutions, and
– expand its brand marketing.
Launched in 2016 by CEO Giorgos Tsetis, Nutrafol takes an integrative approach to hair wellness, which leverages nutraceutical science with natural formulations that address various hormonal, environmental, and hereditary causes that compromise hair health.
Supported by a clinical study shown to improve hair growth and quality, the company’s solutions have been adopted by more than 1,300 physicians, clinics and stylists across the country.
Working with a team of physicians, researchers and scientific advisors, Nutrafol analyzed two years of diverse customer data, comprehensive scientific research and results from thousands of hair mineral analysis tests with consumers, to launch a personalized approach to hair growth. Leveraging information provided by a customer, the GrowthPlan® encompasses proprietary assessment tools, including an algorithmic Hair Wellness Evaluation, Hair Mineral Analysis with ICP Mass Spectrometry, and one-on-one consultations with trained hair wellness specialists to address each customer’s hair journey. These tools allow the company to identify root causes of individual’s compromised hair health and build a customized GrowthPlan® of select product recommendations, unique to each customer’s needs.
Nutrafol also continues to enhance and innovate its product portfolio. Building on the currently available formulations, Nutrafol recently introduced seven new Targeted Boosters comprised of medical-grade natural ingredients designed to support specific imbalances in internal systems that are linked to hair wellness and are unique to each individual.
FinSMEs
02/04/2019