Brand accelerator SuperOrdinary has raised US$58m in Series B fundraising to scale the business.
The company, which helps build beauty brands in international and domestic channels, will use the money to ensure “continued sustainable growth and expansion”.
It plans to develop its global live streaming capabilities and expand its Amazon account management and brand protection services for beauty brands.
SuperOrdinary will also use the funds to grow its creator monetisation platform via social commerce, with a particular focus on TikTok.
The fundraising brings SuperOrdinary’s company valuation to more than $800m.
The funding comes at a period of 30% annual revenue growth for SuperOrdinary.
This has been driven by expansion in the US and continued investment in marketing and branding capabilities in Asia.
“We are thrilled to announce the closing of our Series B round and share our latest valuation,” said SuperOrdinary founder and CEO Julian Reis.
“Which brings us close to one of our day-one goals of becoming a unicorn company.
“Despite the current market challenges in the US and China, we have continued to prove our value to brands across the globe.
“Helping them scale via international expansion, creator partnerships and Amazon growth.
“And we are excited to continue accelerating brands across a multitude of channels as a result of this new funding.”
How does SuperOrdinary help beauty brands grow?
SuperOrdinary said it has helped its beauty brands grow their Amazon business, on average, by 88%.
It also works to remove unauthorised third-party sellers and helps combat fake reviews.
SuperOrdinary also connects beauty brands with influencers to help generate global demand and plans to build on this.
Its “rapidly growing” creator economy business has grown x12 since last year following the acquisition of creator monetisation start-up Fanfix.
Next year, SuperOrdinary expects to grow by more than 40% and reach $350m in revenue.
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