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Memebox Closes Series D Funding with $35 Million

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@IDewCare/ via Facebook.com

K-beauty company Memebox has closed a $35 million Series D funding round led by JJDC.

The funding brings Memebox to $190 million date; other investors include Formation Group and Goodwater Capital. The money will be used to accelerate overall growth.

“We want to build the next generation of personal care brands by leveraging Korean technology across beauty categories. We work closely with our strategic partners so that together we can imagine and create the next cult product. We are laser-focused on predicting and delivering what consumers are craving and believe taking a science-focused approach is key,” said Hyungseok Dino Ha, founder CEO of Memebox. “That’s why we are excited about the investment by JJDC as we will leverage the company’s global capabilities and scientific expertise which will enable us to take a big step forward in our focus on innovation, R&D, and ultimately, reaching a global audience.”

Membox’s portfolio of private label brands include I Dew Care, Kaja and Pony Effect. It plans on continuing to strengthen its portfolio of indie brands by investing in digital and working with innovative manufacturing and retail partners.

Related: What Birchbox Could Learn from Memebox