US premium direct-to-consumer hair care brand Vegamour is to receive US$80m in funding from growth equity firm General Atlantic.
The company, founded in 2016 by Daniel Hodgdon, says it will use the funds to further its organic e-commerce growth, launch additional products and expand into new channels and geographies.
Vegamour specialises in plant-based hair wellness products with a line-up including topical serums, supplements and natural hair maintenance and scalp products.
Hodgdon, a long-term producer of plant-based ingredients for the skin and hair care industries, describes Vegamour as “a 360-degree approach to hair health”, seeking to address the impact that issues like ageing, stress, sleep, lifestyle and the environment have on hair health.
“As we look ahead, we are excited to be partnering with General Atlantic and leveraging the firm’s deep expertise in helping beauty brands scale globally,” Hodgdon adds.
“We look forward to bringing continued product innovation to the market and making Vegamour accessible on a wider scale as we meet growing consumer demand for natural and sustainable beauty products.”
“Vegamour has been a leader in creating a new category in hair wellness and occupies a differentiated position in the marketplace as an efficacious, vegan and clean solution,” said General Atlantic’s Managing Director, Andrew Ferrer.
“In partnership with Dan and the Vegamour team, we are excited to accelerate the company’s growth and build upon its proven model.”
As part of the transaction, Ferrer and General Atlantic’s Lexie Bartlett will join the brand’s Board of Directors.