The Nue Co. announces $25m Series B
The Nue Co. has announced that it has secured $25 million Series B funding with Pamoja Capital, a Swiss-based Canadian family office.
The investment follows a transformational two years for the company which has experienced 500% growth while maintaining a repeat purchase rate of 70% as it continues its global expansion.
The Nue Co. offers a range of topical and ingestible supplements, including anti-stress functional fragrances, made from ethically and sustainably sourced ingredients.
Since launching in 2017, the business has been driven by its D2C channel and a subscription service that accounts for 70% of ecommerce sales. It also has a limited distribution through retailers such as Nordstrom and Violet Grey.
Jules Miller, founder and chief executive of The Nue Co. said: “Having worked with the Pamoja team over the last few weeks, we’re thrilled to be partnering with a fund who are so aligned to our core values. Collectively we believe success comes from developing deep relationships with your customers, while ensuring that we are giving back to our community and doing our best to protect the environment around us.”
John McCall MacBain, founder of Pamoja Capital and chair of the McCall MacBain Foundation, added: “Pamoja Capital is passionate about supporting positive health and environmental outcomes in both our investments and our philanthropy. The Nue Co.’s dedication to building a company that is relentlessly focused on environmental and social impact is inspiring. We look forward to being a part of this vision in the years to come.”
