VEGAMOUR, a digitally native brand of plant-based hair wellness products founded in 2016 by CEO Daniel Hodgdon, announces $80 million in minority growth investment from growth equity firm General Atlantic, to expand its portfolio and expand into new channels and geographies.
Hair loss affects approximately 35% of women – amounting to around 60 million people in the US alone – and VEGAMOUR directly addresses this target group with its topical serums, organically-sourced supplements and natural hair maintenance and scalp health products.
Daniel Hodgdon describes his brand and yesterday’s announcement: “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.”
“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,” said Andrew Ferrer, Managing Director at General Atlantic. “In partnership with Dan and the VEGAMOUR team, we are excited to accelerate the company’s growth and build upon its proven model.”
As part of the transaction, General Atlantic’s Andrew Ferrer and Lexie Bartlett will join the VEGAMOUR Board of Directors.