Function of Beauty is a customizable hair, skin, and body care brand that was founded in 2015 by Zahir Dossa, Joshua Maciejewski and Hien Kaplan.
They have now received a $150 million strategic minority investment from L Catterton.
Function of Beauty has been a hit with it’s millennial and Gen Z audience because of it’s ability to provide and luxury and customisable experience for a reasonable price.
They utilise an algorithm that works out which ingredients, and how much of those ingredients, should be used in shampoo and conditioner for each individual user based on the user’s hair type, fragrance choice and hair goals. The company claims the algorithm offers up to 12 billion custom combinations.
The co-founders of the brand said: “In the last five years, the brand has seen phenomenal growth and this investment from L Catterton will further fuel our continued expansion. We are excited to partner with a proven investor in some of the world’s leading consumer brands to realize the many growth opportunities ahead. International expansion beyond our existing 45 markets will continue to be a key priority, along with the pursuit of new avenues for growth within the U.S. as we introduce more customers to the benefits of customization.”
“Function of Beauty has cracked the code of mass customization and is poised to redefine the beauty landscape,” said Avik Pramanik, a Partner of L Catterton’s Flagship Buyout Fund. “We are delighted to partner with Zahir, Joshua, Hien, and the Company’s passionate team to grow the brand. Together, we look forward to deploying an even more aggressive growth marketing strategy in domestic and international markets while fostering breakthrough product innovation in haircare, skincare, and more.”
Photos via Function of Beauty
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