Strategic alliance will accelerate company's next phase of growth
MILL VALLEY, Calif., March 22, 2023 /PRNewswire/ -- True Botanicals (the "Company"), a leading prestige clean skincare brand, has announced a Series B investment from NextWorld Evergreen, a San Francisco-based growth equity firm with a focus on conscious consumer brands. This partnership will accelerate True Botanicals' retail footprint while advancing its mission around social and environmental impact.
True Botanicals has earned its leading position in the clean prestige beauty category through an unrivaled commitment to sustainable beauty. The Company's highly coveted products are certified MADE SAFEⓇ, the most rigorous and comprehensive ingredient safety certification available, with formulas clinically proven to transform skin.
True Botanicals offers award-winning and top-selling SKUs, notably Chebula Active Serum and Renew Pure Radiance Oil, products known for their devoted following among Hollywood celebrities and top beauty experts, driving customer retention rates well above industry standards.
"We obsess over our customer's needs and desires, and they're why True Botanicals prioritizes innovation that is purely natural biocompatible and is backed by scientific proof to work at the highest level. We are so excited about our partnership with NextWorld, whose expertise in beauty, ESG, and omnichannel retail will support our next phase of growth and leadership towards a more sustainable future." said Sandy Saputo, the Company's CEO.
"Our alliance with NextWorld is exactly the kind of values-based partnership that will expand our brand's mission to deliver the most luxurious and effective products that are safe for people and the planet" says Hillary Peterson, the Company's founder.
The Company will now be led by an all-female board: Hillary Peterson, Founder, Sandy Saputo, CEO, Tiffany Obenchain, NextWorld Managing Partner, Andrea Freedman, NextWorld Operating Partner and former CFO of Kendo Brands & Method Products, and Margarita Arriagada, Founder of Valdé Beauty and former Head of Merchandising at Sephora.
"True Botanicals directly aligns with NextWorld's deep conviction in clean beauty. It is a very special brand that delivers on quality, modern luxury and proven efficacy and is led by a powerful and proven team of beauty executives. We are very excited to partner with Sandy, Hillary, Margarita and the broader True Botanicals team to accelerate the brand's growth." said Tiffany Obenchain, NextWorld Evergreen Managing Partner.
*Financial terms not disclosed. Moelis & Company LLC is acting as exclusive financial advisor and placement agent to True Botanicals.
ABOUT TRUE BOTANICALS
True Botanicals is a digitally native brand with retail distribution in prominent beauty retailers including Nordstrom, Credo Beauty, and The Detox Market. The Company's Series A round was led by Sonoma Brands Capital in partnership with Unilever Ventures, which supported the brand's exponential growth over the last few years. For more information, visit www.truebotanicals.com and follow True Botanicals on Instagram.
ABOUT NEXTWORLD EVERGREEN
NextWorld Evergreen is a San Francisco-based growth equity firm focused on conscious consumer brands. NextWorld Evergreen leverages its 100-year fund structure, deep brand expertise, and ESG frameworks to partner with founders and management teams to build the next generation of consumer companies that positively impact people and the planet while generating outsized business results. Representative investments include Credo Beauty, The Citizenry, Fellow Products, Smith Teamaker and Van Leeuwen Ice Cream. NextWorld Evergreen is a part of NextWorld, an international organization that combines investments and nonprofit activities with a mission to inspire and drive action for a better world. For more information, visit www.nextworldevergreen.com.
SOURCE True Botanicals