Vegan, DTC Hair Wellness Brand Vegamour Raises $80M To Bolster Growth

Vegamour’s line up of serums, dietary supplements and conventional hair care merchandise help hair development and … [+] shine.
Source: Vegamour
This week, plant-based haircare model Vegamour has introduced its funding of $80M from world development fairness investor General Atlantic. Launched in 2016, the model’s vary of serums, dietary supplements and conventional hair-care merchandise intention to serve hair development and wellness. Notably, Vegamour’s 2020 income was up 800% over 2019’s and in 2021, plans to realize at the least 300% development over 2020. The new funding, Vegamour shares solely with Forbes.com, will go to construct headcount, product growth, enlargement into new channels and geographies and persevering with to develop the model’s proprietary digital platform.

Vegamour’s development has come largely from a cult-following of devoted shoppers. According to the model, 60% of income comes from returning clients. Vegamour additionally commissioned an unbiased, third-party survey that discovered that 90% of consumers mentioned they might ‘undoubtedly buy Vegamour merchandise once more’, 88% mentioned Vegamour merchandise are ‘the most effective they’ve ever tried in its class and 85% mentioned, ‘their expertise with Vegamour merchandise was life altering.’ 
According to Vegamour, hair loss impacts roughly 35% of girls, amounting to just about 60 million individuals within the US. The model goals to unravel this problem with ‘clear’ merchandise which might be light on the surroundings and customers. All Vegamour merchandise are vegan and formulated with none artificial chemical compounds, utilizing proprietary phytoactive substances which were clinically confirmed to assist promote hair development. Its line is supposed to deal with hair in a ‘holistic’ method, from the ‘inside-out’. 

CEO Daniel Hodgdon shares that, “When it involves wholesome hair, we should always contemplate the physique’s complete ecosystem. At VEGAMOUR, we’ve developed a 360° method to hair well being that seeks to deal with these points and help a balanced physiological ecosystem conducive to wholesome, lovely hair.” He continues in regards to the partnership with General Atlantic, “Partnering with GA permits us to realize our long-term purpose of essentially altering the best way the trade approaches ‘hair care’ with a hair wellness paradigm that takes into consideration the physique’s complete ecosystem. Hair wellness is the way forward for hair care and our partnership with GA ensures that we have now the funding and sources essential to proceed to personal the hair wellness dialog and keep our place as the worldwide market chief & innovator on this white area.”
Hodgdon is most wanting ahead to supporting, “a greener world, pushed by a rising demand for clear, efficacious hair and sweetness merchandise powered by natural, sustainably grown and thoughtfully harvested plant actives. The incontrovertible fact that this demand creates eco-friendly, truthful commerce financial alternatives and jobs for tens of hundreds of small farmers and their households for generations to come back is thrilling.”