Glow Recipe, the Korean beauty-inspired brand, has announced its first-ever investment deal with private equity firm North Castle Partners.
Founded by former L'Oreal employees Sarah Lee and Christine Chang with US$50,000 of their own money in 2014, the duo previously turned down $425,000 on reality show Shark Tank.
The undisclosed deal with North Castle will boost Glow Recipe's marketing, NPD and senior management recruitment.
Sarah Lee, co-founder of Glow Recipe, said: "This investment is a key milestone for Glow Recipe, and will allow us to accelerate key growth drivers such as product innovation, attracting world-class talent, international expansion, and doubling down on our community-driven approach to brand building."
The skin care brand, known for its fruit-inspired formulas, such as the Watermelon Glow Sleeping Mask, is particularly popular among Gen Z and millennials due its social media strategy.
Glow Recipe's Watermelon Glow Dew Drops and Watermelon Glow Pore-Tight Toner have repeatedly sold out from its retail partners after TikTok videos of people using the product went viral, being seen tens of millions of times.
The indie brand ranks as a top ten skin care brand at multiple retailers globally, reported Glow Recipe, including Cult Beauty in the UK, Australia's Mecca and Sephora in Southeast Asia and the Middle East.
Rich Gersten, a North Castle Industry Advisor, added: "The growth momentum of the business and the strong potential for the brand to expand its product assortment and global distribution position Glow Recipe favorably for long-term success."
Christine Chang, co-founder of Glow Recipe, described North Castle as having a "value and values approach".
She continued: "[They are] equally dedicated to evolving our business during this next chapter while also preserving the core values of our brand and the entrepreneurial spirit that has independently fueled our business since inception."