Social Bella International (Sociolla), an Indonesian beauty and personal care e-commerce startup, has raised about US$56 million in its latest funding round led by US-based private equity firm L Catterton.
The funding round, which marks L Catterton’s maiden investment in Indonesia, was also participated by existing investors East Ventures and Jungle Ventures, according to a statement.
The latest round comes less than a year after Social Bella closed its $58-million Series E backed by existing investors Temasek, Pavilion Capital, and Jungle Ventures. The startup was founded in 2015 by Chrisanti Indiana, Christopher Madiam, and John Rasjid.
Social Bella said it will use the fresh capital for product innovation and for further expansion across Southeast Asia.
Social Bella intends to use the newly raised capital for product innovation and continued expansion across Southeast Asia. The company, also known as Sociolla, is Indonesia’s premier beauty shopping destination, offering authentic make-up, skincare, haircare, fragrance, and beauty tools.
As part of the fundraising, L Catterton will join Social Bella’s board and support the founders in reaching new consumers and meeting the growing demand within the beauty and personal care category.
This investment, L Catteron said, will provide more Gen-Z and Millennial consumers with access to Sociolla’s trusted and curated beauty and personal care brands in Indonesia and Vietnam, empowering its loyal consumer base to look and feel better.
Yock Siong Tee, L Catterton’s principal and investment lead for Southeast Asia, noted that the beauty and personal care category continues to see increasing penetration around the region. Innovative Players, he added, provide consumers with greater options, premium products, and improved accessibility both online and offline.
“We are delighted to partner with a team that has demonstrated a strong track record of helping beauty brands rapidly grow in Indonesia to achieve an at-scale platform, and we look forward to supporting Sociolla in the next chapter of its growth,” Yock said.
L Catterton has significant experience investing globally in the beauty and personal care category. Current and past investments include Marubi, S.p.A., IL MAKIAGE, Intercos, Function of Beauty, TULA, Frederic Fekkai, and many others.