Premium skincare line Allies Of Skin announced a $20 million investment round on Mar. 26 with the funds earmarked for a wide US expansion. It’s the brand’s first institutional raise, having previously taken investment from private investors.
In a statement, the brand said it will be furthering its marketing efforts, investing in new product development and looking to hire a US-based team.
Founded in Singapore in 2016 by Nicolas Travis, the line has garnered celebrity fans, including “Crazy Rich Asians” actor Henry Golding, who was an early investor.
The range features buzzy but dermatologist-approved ingredients such as retinoids and antioxidants, and targets educated, affluent consumers.
Best sellers include the Peptides + Antioxidants Firming Daily Treatment ($129) and Molecular Silk Amino Hydrating Cleanser ($41). It’s currently available in 36 countries and can be found across 40 retail partners, including Mecca, Sephora in the UK and Dermstore.
In a statement, Jake Capps, managing partner at Meaningful Partners, said the firm saw “strong tailwinds” in the “science-backed, efficacy-driven skincare segment.”
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This marks the first time the Australian sun care brand has sought outside investment, since its launch in 2019.
