DTC skincare Brand Innbeauty Project has raised $12 million in a Series A funding round, led by Alliance Consumer Growth, with additional participation from Strand Equity and Beechwood Capital. The beauty brand will use the freshly raised funds to oversee the brand’s growth, and expand its partnership with Sephora, with future plans of entering into the mass beauty retailer’s Canada operation during the first half of 2023. Additionally, Julian Steinberg, ACG managing partner, will join the board at iNNBeauty as part of the investment.
The company thrives on its ‘clean and sustainable’ branding.
“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,” Steinberg said in a statement. “We look forward to working with the incredible management team to disrupt and democratize prestige skincare.”
Founded in 2019 by Jen Shane and Alisa Metzger because of a void in the beauty space for clean, affordable and efficacious skincare, iNNBeauty Project focuses on making sure its customers aren’t ‘breaking the bank.’
Ever since its inception, the brand has consistently reached 160% year-over-year growth and is sold across 517 Sephora stores.
“Seeing our iconic products like Green Machine & Pimple Paste continue to engage new users in-store and on digital platforms is so rewarding as we look toward the new year,” said Alisa Metzger, Co-Founder of iNNBeauty Project. “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.”
This news comes after iNNBeauty Project closed a minority investment in October 2021 from Beechwood Capital and Strand Equity.
