Kopari Beauty gets $20m funding, L Catterton, Unilever lead round
Unilever took part through its Unilever Ventures, while the San Diego-based University Growth Fund (which is the largest student-run fund in the US) was also among the investors.
The object of their attention is a four-year-old “conscious” skin, body and personal care brand that has been making an impact in recent periods. It’s moved from its D2C roots into some of the biggest names in multi-brand retail such as Sephora, Ulta, Nordstrom, Urban Outfitters, Riley Rose, Bloomingdale's, and Anthropologie.
Kopari’s CEO and founder Bryce Goldman said that the “continued investment from such formidable firms demonstrates our sustained category dominance and successful market integration with our hero ingredient to reach a wide, and still growing, consumer set.”
Kopari said it will use the funding “to enhance its commitment to product research and development that utilises coconut to its most elevated capacity, harnessing all of the multitasking benefits it has to offer. Additionally, the brand will allocate the funding to retail and international expansion, e-commerce improvements for UX/UI and the brand's subscription platform.”
Michael J. Farello, Managing Partner of L Catterton Growth Fund, which has been an investor for some time, said: “In just a little over two years since our initial investment, Kopari has experienced tremendous growth and demonstrated both strong new product development and potential for global expansion. We are confident in [its] ability to maintain its position as a leader of the growing natural beauty and personal care categories and support the brand's mission of providing its global fan base with natural products that fit every aspect of consumers' beauty routines.”
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