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By Colin Kellaher
Nutrafol, a hair-growth nutraceutical startup, said Tuesday it raised $35 million in a Series B financing round led by consumer-focused private-equity firm L Catterton's growth fund.
Nutrafol, which offers nonprescription products aimed at improving hair growth through drug-free natural ingredients, said existing investor Unilever Ventures, the venture-capital arm of consumer-products giant Unilever PLC (ULVR.LN), also participated in the round.
The investment, at an undisclosed valuation, brings Nutrfol's total funding to date to around $45 million, a spokesman said, noting that the company's revenue run rate is approaching $100 million.
Nutrafol, which was launched in 2016, said it will use the funding to further expand its personalized system, featuring new targeted boosters for hair health that address deficiencies and imbalances such as menopause, stress and gut health.
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(END) Dow Jones Newswires
April 02, 2019 13:03 ET (17:03 GMT)
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