Nutrafol, a fast-growing hair tonic brand, has completed a $35 million B round.

Nutrafol, a brand of hair tonic, raised $35 million in the B round of financing. Nutrafol announced on Tuesday that it had raised $35 million in round B financing, led by North American fund Growth Fund, the largest consumer investment fund in the world, L Catterton. Existing investors, Unilever Ventures, the investment arm of European consumer goods giant Unilever (Unilever), also participated in this round of financing. 

Nutrafol is a pioneer in the field of development and nutrition science. Its unique comprehensive natural formula is supposed to solve various problems that plague hair growth, including alopecia caused by hormones, environment and heredity. Nutrafol uses 100% non-toxic, safe and natural ingredients. Its effect is supported by clinical research and can effectively improve hair quality and hair quantity.

Nutrafol worked with leading doctors, researchers and scientific consultants to analyze data from different clients within two years and the results of thousands of hair mineral analysis tests, thus launching the first innovative personalized hair development solution, GrowthPlan.

GrowthPlan can use the detailed information and proprietary evaluation tools provided by customers to solve each customer's hair problems. Its proprietary assessment methods include Hair Wellness Evaluation algorithm, hair mineral analysis using ICP Mass Spectrometry, and one-to-one consultation with hair health specialists. These tools enable Nutrafol to identify the root causes of personal hair health damage, and tailor the personalized solution GrowthPlan that includes selected products to suit the needs of each customer.

Nutrafol also recently launched seven hair products Targeted Boosters, which can solve endocrine disorders related to hair health by using medical natural ingredients. Nutrafol has become a widely recognized new generation of germinal health products in the United States. Nutrafol's revenue almost tripled year-on-year, and it is highly praised in the industry, including Allure's Best of Beauty Breakthrough Award in 2018. With the latest funding, Nutrafol will further expand its product scale and introduce more new Targeted Boosters to address hair loss caused by other imbalances, such as menopause, stress and intestinal health. The investment of will also enable Nutrafol to further collaborate with the scientific community, continue extensive research and enhance the effectiveness of natural germination solutions. In addition, Nutrafol will continue to deepen its brand mission of "education, growth and health". By expanding brand marketing, positioning and publicity, more people will understand Nutrafol and pay attention to hair health issues. Giorgos Tsetis, co-founder and CEO of Nutrafol, said: "As founders, we have always been confident about Nutrafol's vision. The vision is simple: to develop a holistic concept of hair health and to promote hair technology to those who have experienced hair problems. We are delighted that L Catterton has led our latest round of investment. With the partnership of L Catterton and the support of existing investors such as Unilever Ventures, we will continue to work for our vision, promote brand globalization, develop more personalized development solutions portfolios, and strengthen our position as market pioneers. Chris Roberts, a partner of NbspGrowth Fund, said: "Our team is proud to work with a leading brand of unique hair care. Existing companies in the field of hair care are marketing existing solutions, and Nutrafol is looking for a completely different way of thinking to achieve its vision and promote innovation in the hair care and beauty industry. Using new scientific research, Nutrafol is promoting a comprehensive hair-generating method and hopefully changing consumers'perceptions of hair health. We look forward to working with Nutrafol's strong management team to continue to expand the company's size and realize the full potential of the brand. 

Unilever Ventures, said: "Since we participated in the A-round investment in early 2017, Nutrafol has demonstrated its ability to change consumers'attitudes towards hair loss and to meet consumers' needs for better and healthier hair products without side effects. Nutrafol is committed to its mission, expanding and personalizing its product supply, and they have taken a landmark step in meeting key market gaps. 

About L Catterton

L Catterton is the largest consumer investment company in the world. It has six investment platforms and 17 offices in the world, with more than 150 investment and operation professionals. L Catterton, founded in 2016, is a merger of LVMH's private equity and real estate investment arm, L Capital, and Catterton, an American private equity firm. So far, L Catterton has made more than 160 investments worldwide, totaling more than $15 billion, focusing on consumer areas, including fashion accessories, food and beverage, retail and catering, consumer health, media and marketing services, and real estate projects.

Growth Fund is L Catterton's investment fund for North America, mainly investing in medium-sized enterprises in North America between US$10 million and US$50 million.