Beauty and wellness brand Moon Juice has received a Series C investment from True Beauty Ventures totaling $7 million, the growth fund said Monday. Moon Juice is a pioneer in using plants and science to deliver wellness benefits. The brand is also known for championing transparency, efficacy, and sustainability and bringing these values to the forefront as passion points for consumers, including how products are ideated, how ingredients are sourced, and sustainable packaging practices. In 2019 the brand was closing in on $50 million in sales. It has not raised money since 2017.
Founded in 2011 by Amanda Chantal Bacon—who sold juices, alternative milks, tonics, snacks, and adaptogenic blends as a result of her own autoimmune issues—Moon Juice now operates two stand-alone stores in L.A. and sells supplements and skin care products on its ecommerce site as well as through retailers such as Sephora, Mecca, and Cult Beauty.
“This decade with Moon Juice has been an incredible journey,” said Amanda. “What started as a personal experience has grown into a global community stronger than I ever could have imagined. I’m in awe of what the next decade holds.”
Best-sellers include SuperYou for stress relief; SuperHair to support healthier, thicker, stronger hair; Magnesi-Om for relaxation and sleep; and Acid Potion, an exfoliator to help unclog pores and resurface skin.
“The brand has always been ahead of its time. When I met Amanda and Elizabeth [Ashmun, President of Moon Juice] in 2017, I saw Moon Juice as the category captain, trailblazing the space where wellness and beauty were beginning to converge,” said Rich Gersten, Co-Founder and Managing Partner of TBV, which invests $1 million to $5 million in up-and-coming brands. “Now, four years later, that convergence has happened and Moon Juice is the best positioned brand to capitalize on it.”
The beauty ingestible category is booming; the market has been valued at $3.29 billion in 2021, and it is expected to reach $8.30 billion in 2030, representing CAGR of 11 percent from 2022 to 2030, according to TBV.
“What was amazing for us to see, is that once Moon Juice is in your hands, you’re loyal to the brand,” added Co-Founder and General Partner of TBV, Cristina Nuñez, “The efficacy is clear from the subscription data and lifetime value of the Moon Juice consumer. Now, with an infusion of capital, Moon Juice can further increase its brand awareness and capitalize on the category’s impressive momentum.”
With this current raise, “the brand will be able to invest in marketing programs to increase brand awareness and trial for more consumers to fall in love with its core products. Additionally, this raise will allow the brand to test new channels and speak directly with its consumers.”