Allies of Skin Raises $20M From Meaningful Partners
PARIS — Allies of Skin, the Singapore-based skin care brand, has raised $20 million from Meaningful Partners.
The funds will be used to accelerate Allies of Skin’s U.S. push, online and offline, including more marketing, research and development, and team-building there.
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Nicolas Travis launched the science-led brand in 2016 with three products. The 1A All-Day Mask was the hero of the trio, which stemmed from Travis’ belief in double masking and combination treatments.
The line has grown since and today includes a full skin care range, with formulas containing clinically proven actives — such as retinoids, vitamin C and antioxidants — in high concentrations and biocompatible formulas to repair regenerate and train skin to perform at its best in minimum steps, according to Allies of Skin.
Inclusivity and mental health are important elements of the brand’s ethos. It donates profits yearly to related nonprofits and aims to support clients on their path to well-being.
The company in a statement named the constellation of celebrities who use the brand: Kaia Gerber, Behati Prinsloo, Rose Byrne, January Jones, Phoebe Dynever and Henry Golding, the latter of whom was an early investor in Allies of Skin.
The brand is now sold in 36 countries through 40 retailers, including Space NK, Mecca, Sephora, Dermstore and Cult Beauty. Altogether it is present in more than 800 doors. Allies of Skin is also sold online through allies.shop.
“Building on Allies of Skin’s success abroad, Meaningful Partners is committed to supporting the brand’s exponential growth across their existing markets and within the U.S.,” Allies of Skin said in the statement.
“After earning a fanatical customer base through their supercharged formulations and cutting-edge new product development, we look forward to supporting the company alongside our talented bench of beauty operating expertmembers as they continue to focus on the expansive U.S. market,” said Jake Capps, managing partner at Meaningful Partners. “With a lineup of clinically backed new product launches, operational excellence and a strong team, Allies of Skin is positioned for success in the U.S. during this exciting next phase of growth.”
Meaningful Partners is based in Los Angeles. It invests $10 million to $50 million-plus in consumer products and services businesses that focus on purpose as well as profit, according to Allies of Skin. These are lower-middle market and high-growth companies in which it takes a minority or majority stake.
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