SuperOrdinary bags US$58M funding, inches toward unicorn status
10 Oct 2023 --- SuperOrdinary has announced the completion of a US$58 million series B funding, bringing the company’s valuation to over US$800 million.
SuperOrdinary is a global brand accelerator to establish and scale brands in international and domestic channels. The company is facilitating sustainable global expansion for consumer brands such as Farmacy, Olaplex, Sabon, NuFace and Biossance.
It plans to invest further in global live streaming capabilities, Amazon account management and brand protection services and its creator monetization platform.
“We are thrilled to announce the closing of our series B round and share our latest valuation, which brings us close to one of our day-one goals of becoming a unicorn company,” says Julian Reis, founder and CEO at SuperOrdinary.
SuperOrdinary says proceeds will be used to further its capabilities and provide financially sustainable growth and expansion.
Funding distribution
The company says these investments will continue to bolster its ability to “connect brands, consumers and creators around the world.” Investors in the series B funding include Manzanita, Puig, Demira Gate, Upper90 and Julian Reis.
“Despite the current market challenges in the US and China, we have continued to prove our value to brands across the globe, helping them scale via international expansion, creator partnerships and Amazon growth, and we are excited to continue accelerating brands across a multitude of channels as a result of this new funding,” says Reis.
SuperOrdinary aims to move toward becoming a unicorn company after its series B funding round (Image credit: Olaplex)SuperOrdinary launched in 2018 as a “one-stop global growth partner” facilitating international expansion for “best-in-class” personal care brands. Since then, the company has expanded its services to be inclusive of Amazon management and brand and creator partnerships.
Financial stability drives growth
The series B investment occurred alongside a period of strong 30% annual revenue growth for SuperOrdinary. The company attributes this to “significant” expansion in the US, continued investment in marketing and branding capabilities in Asia and the growth of SuperOrdinary’s engineering team, which has tripled in size throughout the last year.
Additionally, SuperOrdinary is growing its creator economy business, which has grown 12 times since last year following the acquisition of creator monetization start-up Fanfix. Next year, SuperOrdinary expects to grow more than 40% and reach US$350 million in revenue, bringing the company to profitability.
Recent funding in personal care
Last month, personalized beauty brand Proven closed a US$12.2 million Series A round. The funds will be channeled toward the company’s brands, which include the AI-powered Proven Skincare brand specializing in personalized products.
Sophim, a manufacturer of natural cosmetic ingredients, also completed a €20 million (US$21.5 million) funding round to finance its growth toward its target of developing from a small-to-medium firm to a mid-cap company.
By Sabine Waldeck
