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L Catterton Invests $150 Million in Function of Beauty

Function of Beauty products
Function of Beauty products. Function of Beauty.

The start-up, known for its customisable shampoo and hair treatment formulas, said it would use the cash to double down on product development, international expansion and manufacturing capabilities. Existing investors CircleUp and GGV also participated in the funding round.

Founded in 2015, Function of Beauty expanded into skin care and body care earlier this year, and currently has a team of 400 employees and a presence in 45 markets.

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Former Estée Lauder executive Raffaella Cornaggia has been named CEO of the unit, which will develop beauty for the French group’s brands, including Bottega Veneta, Balenciaga and Alexander McQueen.





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