Clean Makeup Brand Ilia Raises Series B, Plots Further Growth

Clean makeup brand Ilia has raised a Series B from Sandbridge Capital, a fund that also backs Thom Browne, Derek Lam and Youth to the People. The round follows a Series A that the brand closed in late 2018. “Like other brands in this industry, I believe many of us are seeing accelerated growth, so when you raise capital you generally have an idea of how long it will take you,” said Ilia founder Sasha Plavsic. For Ilia, that Series A was meant to last about a year or 18 months — but Plavsic decided to raise a little sooner to “not be in a rush.” Ilia has been experiencing a period of “extreme growth,” she said, due partially to the mainstreaming of clean beauty. “It’s like everything I felt 10 years ago, the consumer is feeling more on a mass level now,” Plavsic said. Industry sources noted that Ilia has been doubling year-over-year, and ended 2019 with about $22 million in retail sales. For 2020, retail sales are projected to approach $35 million, sources said. The Sandbridge money is meant to help fund increasing marketing and sampling initiatives, as well as product technology and new hires, including a creative director. As the company has

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