Grove Collaborative, a San Francisco-based provider of home essentials like cleaning supplies and personal care products, raised $150m in Series D financing.
The round, which brought total funding to more than $250m and the valuation to more than $1 Billion, was co-led by Lone Pine Capital, General Atlantic, and Glynn Capital with participation from Greenspring Associates as a new investor as well as from existing investors Norwest Venture Partners, Mayfield Fund, NextView Ventures, MHS Capital, and Heron Rock Capital.
The company intends to use the funds to:
– expand into the clean beauty category,
– invest further in its sustainable packaging and supply chain, and
– grow its ‘Grove Guide’ program, a personalized concierge service staffed by a dedicated team of experts on healthy and sustainable homes.
Launched in 2016 by Stuart Landesberg, CEO, Grove Collaborative is a Certified B Corporation® that creates innovative natural products and offers a curated selection of home essentials like cleaning supplies and personal care products, under the Grove Collaborative®, Seedling by Grove™, Rooted Beauty™, Honu™ and Sustain® brands.
Every item the company offers, both from its flagship Grove Collaborative brand and from third- party brands, has been thoroughly vetted against standards for sustainability, efficacy and supply chain practices.
FinSMEs
06/09/2019