Vegamour has announced that General Atlantic is investing $80 million in Vegamour to further its organic e-commerce growth, launch additional products and expand into new channels and geographies.
Previously: Plant-Based Dry Shampoo by Vegamour
As part of the minority investment, General Atlantic’s Andrew Ferrer and Lexie Bartlett will join the Vegamour board of directors.
Vegamour was advised by Financo | Raymond James and Sidley Austin LLP. General Atlantic was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.
Additional terms of the transaction were not disclosed.
Vegamour CEO Daniel Hodgdon said: “After years of observing how things thrive in nature, it’s clear that when it comes to healthy hair, we should consider the body’s entire ecosystem. Hair wellness is impacted by so many factors—aging, stress, sleep, our environment and especially the things we put into and onto our bodies. At Vegamour we’ve developed a 360° approach to hair health that seeks to address these issues and support a balanced physiological ecosystem conducive to healthy, beautiful hair. 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. 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.”
Andrew Ferrer, managing director at General Atlantic, said: "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. In partnership with Dan and the Vegamour team, we are excited to accelerate the company’s growth and build upon its proven model.”