New York-based supplement company The Nue Co. recently raised $9M in a Series A funding round. The round was led by Waldencast – other investors include Redo Ventures, the single family office of L’Occitane, which is also featured in our list of single family offices in the United States.
Series A to grow direct-to-consumer subscriptions
Nue Co. wants to grow its number of subscribers for its supplement plan through the funding. The company’s monthly supplement plans “take the guesswork out of supplements”. Customers can choose between plans tailored for “Energy”, “Gut Health”, “Immunity”, “Sleep” or “Skin”. Also a “General” plan or mixed planes is possible. The company also takes care of vegans, vegetarians and dairy-free consumers. Nue Co. was founded in 2016 by Juliana Miller and – since then – grew to more than 20,000 customers. The products are also available at retailers like Soho House or Kith.
Funding round by venture capital funds and L’Occitane single family office
As previously stated, the current funding round is led by Waldencast and also includes other investors like Unilever Ventures, Columbia Care or Redo Ventures. Waldencast is a rather unknown VC firm led by former L’Oreal executive Michel Brousett. Unilever Ventures is the corporate VC arm of the consumer products giant Unilever. Columbia Care is a major medical marijuana company. Interesting is the participation of the (also New York-based) L’Occitane family office Redo Ventures. The team led by Philippe Glessinger already invested in companys like Alchemy 43, Caper Lab or Wellsheet. The fit of The Nue Co. to L’Occitane is obvious, since both companies are offering rather expensive lifestyle consumer goods. All investors are quite a strategic fit for the young supplement company.
Picture source: Léonard Cotte
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