Kopari Beauty announced the closing of a $20 million funding round from notable partners.
The coconut-powered brand's new partners include the Growth Fund of L Catterton, the largest and most global consumer-focused private equity firm, Unilever Ventures, and the San Diego-based University Growth Fund, the largest student-run fund in the country.
Bryce Goldman, CEO and co-founder of Kopari, says, "The continued investment from such formidable firms demonstrates our sustained category dominance and successful market integration with our hero ingredient to reach a wide, and still growing, consumer set."
Goldman continues, "We are thrilled to partner with Unilever Ventures and L Catterton as we reach new heights in the development of our conscious skin, body and personal care products. Most of all, we are excited about the immeasurable value around growth and strategy that both entities bring to the table."
Investing in Expansion
Kopari will use the funding to enhance its commitment to product research and development that utilizes its hero ingredient, coconut, to its most elevated capacity, harnessing all of the multitasking benefits it has to offer.
Additionally, the brand will allocate the funding to retail and international expansion, e-commerce improvements for UX/UI and the brand's subscription platform.
L Catterton previously invested in Kopari in January 2017, alongside celebrity investors Ashton Kutcher, Mila Kunis, Jared Leto, Karlie Kloss, Hilary Duff and Shay Mitchell. With the support of L Catterton, Kopari has continued its rapid expansion into more than 1,800 brick-and-mortar stores worldwide and develop more than 26 award-winning products across five product lines.
Michael J. Farello, Managing Partner of L Catterton Growth Fund says, "In just a little over two years since our initial investment, Kopari has experienced tremendous growth and demonstrated both strong new product development and potential for global expansion."
Farello continues, "We are confident in Kopari's ability to maintain its position as a leader of the growing natural beauty and personal care categories and support the brand's mission of providing its global fan base with natural products that fit every aspect of consumers' beauty routines."
Olivier Garel, Managing Director and CEO of Unilever Ventures, adds, "We are excited to partner with Kopari as the brand continues to prioritize developing cleaner, coconut-based personal care products. We are hopeful that our work together will help the brand continue to innovate and expand globally in each of its rich, category-specific verticals, spanning from personal care to skincare and beyond."
More About Kopari
Launched in 2015 as a direct-to-consumer brand, Kopari was founded by Hawaiian-born naturalist and certified-organic chef, Kiana Cabell, third-generation beauty experts and industry veterans, Bryce and Gigi Goldman, and health entrepreneur and Suja Juice co-founder, James Brennan.
Kopari products are available for purchase across the United States, Canada, Southeast Asia and Australia in retailers such as Sephora, Ulta, Nordstrom, Urban Outfitters, Riley Rose, Bloomingdale's, and Anthropologie, as well as online at KopariBeauty.com, Amazon, and Revolve.