High Beauty Inc., a Santa Rosa, Calif.-based skincare brand formulated with hempseed oil, closed a $4.17m convertible bridge financing round.
The round was led by RIV Capital, which invested $1.07m, with participation from seventeen additional investors, including ARI Holding, an affiliate of High Beauty’s Middle East distributor, PIF.VC, Treehouse Global Ventures, and Highlands Venture Partners. Stubbs Alderton & Markiles, LLP, through its investment affiliate SAM Venture Partners, and Consolidated Design West, key vendors of the company, which contributed an additional $3.1m in new capital.
Led by Melissa Jochim, Founder and Formulator, High Beauty is a multiple-branded beauty portfolio that spans channels and borders globally. Both high® and canBE naturally high® products are formulated with hempseed oil, bioflavonoids and pure essential plant oils, to deliver the benefits of hemp and set a new high for clean beauty standards. The company has global distribution partnerships in the U.S., Canada, Asia, the United Arab Emirates, and the European Union.
The financing was expanded three times to accommodate additional investments from the High Beauty Brand. This included the launch of the company’s second brand, canBE naturally®, in the United States. Additionally, high® launched a line of new biosynthesized cannabinoid products as well as high & bye for blemish-prone skin, both under its exclusive partnership with Lygos.