Counter Brands has a new backer and plans to grow its cleaner cosmetics business Beautycounter.
Mousse Partners, a family office with a track record in beauty and tech-based companies, has made a strategic investment in the Santa Monica, Calif.-based firm. Mousse is led by Charles Heilbronn, founder, chairman and president, who was an early investor in Ulta Beauty Inc. and sits on the company’s board. He is also a senior executive of Chanel Ltd., a subsidiary of Chanel S.A.
Terms of the investment were not disclosed, but the company plans to use the new money to accelerate its strategic initiatives “including the development of a more robust omnichannel business, and provide capital for investments in technology as well as digital and brand marketing.”
TPG Growth also put additional funds into the business, adding to a previous investment from 2014.
Beautycounter was launched in 2013 and focuses on skin-care and beauty products that strive to stand out by using a rigorous ingredient selection process to ensure health and safety standards. Its goods are sold through its own platform, which features 25,000-plus consultants in North America, an e-commerce site and partners such as J. Crew, Target and Goop.com.
“Consumers have the right to safe products without sacrificing quality or performance. Mousse Partner’s investment will aid us in our mission to deliver consumers better products they can trust,” said Gregg Renfrew, founder and chief executive officer of Beautycounter.
Parker Hayden, managing director and head of U.S. private equity at Mousse Partners, will join the company’s board and said: “Gregg is not only an inspirational founder who unites the community around the shared goal of using safe and effective products, but also a visionary. We believe that the trend she started with Beautycounter will eventually become the norm for all beauty products.”
The company has nearly 130 products in the areas of skin care, color cosmetics, advanced antiaging, kids, baby and personal care.