South Yorkshire skincare brand raises £10m in Series A funding
Facetheory, the direct-to-consumer clean skincare brand based in South Yorkshire, announced it has raised £10m in Series A funding from Active Partners.
The investment will be used to fuel growth in key markets, recruit best-in-class talent, and invest in product research and development. The investment team at Active Partners was led by Jason Mahendran and Janice Cargo, who will also be joining the Facetheory board.
Founded in South Yorkshire in 2014 by Jamie Shuker, Facetheory is on a mission to provide consumers with the very best clean skincare products, at a price point they can afford.
With a focus on local, sustainable manufacturing, and thanks to a range of scientific talent in the wider Yorkshire area, Facetheory has quickly built an R&D function with a “strong in-house team of scientists and product experts”.
Until now, Facetheory has been a purely direct-to-consumer player, and the digitally-native brand has accrued over 350,000 active customers in the past year. Over 40 per cent of Facetheory’s customers are based outside the UK, and the company is rated as ‘excellent’ on Trustpilot.
Facetheory has also seen “impressive” revenue growth, accelerating from £2m to £15m over the past three years.
Facetheory currently has a team of 60 employees, based primarily in South Yorkshire. The latest investment will be used to capitalise on Facetheory’s early momentum, “supercharging international growth” in key markets including Europe and the US, building out the team with best-in-class talent and continuing to invest in research and development.
Jamie Shuker, CEO and founder of Facetheory, said: “I founded Facetheory on the belief that consumers deserved better for their skin: better ingredients, better results and better prices. It’s been an incredible journey to date, and I’m so proud of the amazing community we have built so far from our home in South Yorkshire.
I couldn’t be more excited to have Active Partners on board for this next phase of growth, and their deep expertise and experience in building exceptional, ethical consumer brands will be invaluable as we look to further build out our brilliant team and bring Facetheory’s products to a global audience.“
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