Plastics, parabens, and pollutants are out and going natural is in. With celebrities stepping into the space and conversations about cleaner lifestyles dominating pop culture, it’s safe to say consumers are growing ever more passionate about the clean beauty movement. As demand rises, Silas Capital and Unilever Ventures are among the VC firms that have shown interest in this buzzing category.
What is clean beauty?
There is no one single standard for what constitutes clean beauty. However, most certifications define a clean beauty product as one free from potentially harmful ingredients like parabens, formaldehyde, phthalates, and other chemicals often found in traditional beauty products.
Clean beauty products tend to feature naturally derived, organic ingredients, with many brands prioritizing environmentally-friendly practices and sustainable packaging—another draw for the modern-day beauty consumer.
VC-backed clean beauty brands creating buzz
Caliray
Total raised to date: $8.0M
Valuation: $18.0M
Notable deal: $5.0M Series A funding raised from Gph Capital and True Beauty Ventures in January 2023.
Popular product: Come Hell or High Water Volumizing Tubing Mascara
Wende Zomnir, the founder of iconic beauty brand Urban Decay, knows life is too short to spend it getting ready. She describes her new venture Caliray as beauty on a wellness bender, with simple products suited to a wellness-focused lifestyle.
Dae
Total raised to date: $10.6M
Notable deal: Raised $8.0M in a Series A round led by Verity Venture Partners in November 2022.
Popular product: 3-in-1 Cactus Fruit Styling Cream
Amber Fillerup Clark doesn’t just live in Arizona; she’s inspired by it. Her clean haircare line Dae is made up of ingredients and scents local to Arizona, formulated to bring the warmth of the desert to consumers, wherever they may be.
Haus Labs
Total raised to date: $10.4M
Valuation: $40.4M
Notable deal: Raised $10.4M in Series A funding from Lightspeed Venture Partners and Riverside Ventures in 2018.
Popular product: Triclone Skin Tech Medium Coverage Foundation with Fermented Arnica
Lady Gaga has always stood for self-expression, and her clean makeup line is no exception. Described as the meeting of creativity and technology, Haus Labs gives consumers tools for self-expression that are kind to skin, to animals, and to the planet.
Ilia
Total raised to date: $22.0M
Valuation: $117.5M
Notable deal: Acquired by Famille C and Clarins Group in March 2022.
Popular product: True Skin Serum Concealer with Vitamin C
When Sasha Plavsic founded Ilia in 2011, she was inspired by her mother, who helped her son’s allergies by introducing clean ingredients to his diet. Seeing the difference nature-derived products could make, she decided to create a line of clean, skin-centric beauty products, making no compromises on the ingredients included.
Iris&Romeo
Total raised to date: $8.7M
Valuation: $4.0M
Notable deal: Raised $6.0M in seed funding in a deal led by BrandProject in May 2022.
Popular product: Power Peptide Lip Balm
To founder Michele Gough Baril, combining skincare and makeup is a must for helping customers consume less and get ready faster. Her brand Iris&Romeo carries all-in-one products that aim to bring efficiency, safety, and sustainability to the ordinary person’s makeup routine.
Kosas
Total raised to date: $19.0M
Notable deal: Raised $12.0M in later-stage VC funding from VMG Partners, Short List Capital, and Beechwood Capital in April 2022.
Popular product: Air Brow Tinted Clean Volumizing Eyebrow Gel
Founded by biologist Sheena Zadeh-Daly, Kosas is all about clean makeup formulated for sensitive skin. Her first product? Four earth-toned lipsticks inspired by colors she mixed in a portrait painting class.
Tower 28
Total raised to date: $1.2M
Valuation: $4.2M
Notable deal: Raised approximately $1.2M in seed funding from Concept to Co in September 2019.
Popular product: ShineOn Lip Jelly Non-Sticky Gloss
For founder Amy Liu, a lover of beauty products who has chronic eczema, products made for sensitive skin just weren’t cutting it—they were too boring and too clinical. After 15+ years of experience in the beauty industry, Liu started Tower 28, a clean makeup brand designed to create a safe space for sensitive skin while still having plenty of fun.
Typology
Total raised to date: $27.4M
Valuation: $226.3M
Notable deal: $16.1M raised in early-stage VC from Alven Capital Partners and Singular in April 2023.
Popular product: D41 9-Ingredient Face Moisturizer
B-Corp certified and PETA approved, founder Ning Li’s Typology is bringing skincare back to basics. With formulations pared down to only the most essential ingredients, his products treat a wide range of skin types and needs.
Westman Atelier
Total raised to date: $21.9M
Valuation: $97.0M
Notable deal: Raised $7.0M in Series A2 funding from Imaginary Ventures in July 2022.
Popular product: Baby Cheeks Lip + Cheek Cream Blush Stick
Even before founding Westman Atelier, Gucci Westman’s impact on the beauty world was prolific. As a makeup artist to the stars, Westman rose to prominence for her signature supernatural glowing looks, working with clients such as Jennifer Aniston, Anne Hathaway, Reese Witherspoon, Gwyneth Paltrow, and more. Her “second-skin” approach to makeup can be seen in her new line of simple makeup that is said to feel as good as it looks.
Youthforia
Total raised to date: $2.0M
Notable deal: Raised $2.0M in a seed round in April 2023 from investors Mark Cuban, True Beauty Ventures, and Willow Growth Partners.
Popular product: BYO Blush Color Changing Blush Oil
How big is clean beauty getting? Even Mark Cuban is taking notice. When founder Fiona Co Chan brought her brand Youthforia to Shark Tank, it didn’t take much convincing to get the infamous investor on board. Her unique testing method certainly helped tip the scales – to make sure all her products feel as good as they look, she sleeps in all her lab samples.
*The data included in this article is accurate per PitchBook Platform data as of October 31, 2023. Data is subject to change frequently.
**Popular products were determined by a combination of social trends, product reviews, and media coverage. For corrections or changes, please email [email protected].More about beauty and skincare
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