Skincare brand iNNBeauty Project has closed a $12 million Series A funding round.
The company plans to utilize the funding to grow brand awareness, support its partnership with Sephora and expand distribution to Sephora Canada’s omnichannel operation in the first half of 2023.
The investment was led by consumer investor Alliance Consumer Growth (ACG) and saw participation from existing investors Strand Equity and Beechwood Capital. Under the terms of the investment deal, ACG managing partner, Julian Steinberg, will join the company’s board.
“As the brand grows, we remain acutely focused on setting iNNBeauty Project apart through truly innovative, efficacious formulas with top-quality ingredients at an unmatched value,” said Jen Shane, co-founder of iNNBeauty Project.
“Our goal with every product we develop is to change the skincare industry for the better with innovation & value while building a highly trusted brand with loyalty & longevity,” she added.
Shane co-founded the brand with skincare veteran Alisa Metzger in 2019 with the goal of introducing clean, efficacious, and affordable skincare products in the market. Since its launch, the company has recorded 160% year-over-year growth and successfully struck a partnership with Sephora. As a result, InnBeauty Project’s products are today available in all 517 Sephora stores and on the Sephora website.
Photo(s) credit: iNNBeauty