iNNBeauty Project has closed a $12 million Series B investment led by consumer investor Alliance Consumer Growth (“ACG”) with participation from existing investors Strand Equity and Beechwood Capital.
The funds will be allocated toward growing the brand and supporting its exposure in Sephora, with plans to expand distribution to Sephora Canada’s omnichannel operation in the first half of 2023.
ACG managing partner, Julian Steinberg, will also join the company’s board.
Alisa Metzger, co-founder of iNNBeauty Project, said, "Seeing our iconic products like Green Machine and Pimple Paste continue to engage new users in-store and on digital platforms is so rewarding as we look toward the new year. While the bright packaging attracts audiences, it’s what’s in the bottle that drives captivating content and engagement. On top of that, the attractive price point is what keeps customers coming back, and we’re so excited that ACG believes in our products as much as we do. With their support, we’ll be able to provide even more effective products to our customers.”
Jen Shane, co-founder of iNNBeauty Project, said, "As the brand grows, we remain acutely focused on setting iNNBeauty Project apart through truly innovative, efficacious formulas with top-quality ingredients at an unmatched value. Every aspect of how we approach a formula remains consumer focused to deliver a superior product and experience. Our patent-pending Retinol Remix is a great example of how we listened to our customers, who were desperately seeking a retinol option without the harsh side effects. Our goal with every product we develop is to change the skin care industry for the better with innovation and value while building a highly trusted brand with loyalty and longevity.”
Julian Steinberg, managing partner of ACG, said, "It’s an exciting time for the clean beauty industry, and we are proud to support iNNBeauty Project, which is leading the charge and raising the bar for others in the space by delivering truly best-in-class formulas at an unbelievable price point. We look forward to working with the incredible management team to disrupt and democratize prestige skin care.”
