Evereden, a fast-growing premium skin care brand, today announced a $32 million Series C funding round. The investment, which was led by GSR Ventures, comes just three years after this new “multi-generational skin care brand” rolled out its first product.
 
With 38 SKUs across five categories, baby, kids, mom, SPF and medical skin care, Evereden says it has experienced explosive 350% year-over -year growth.
 
Co-Founder and CEO Kimberley Ho said the funding will enable Evereden to “double down” on what has fueled its success: research and development.
 
R&D capabilities have been a “bread and butter issue from day one,” she said.
 
“It was really important for me and the rest of the team to build a brand that was not just about a great slogan or beautiful aesthetics. At the end of the day, the product and the formulation matter more than anything. R&D has always been the heart of the company,” Ho told Happi in a phone interview ahead of todays Series C announcement.
 
Evereden has built out its own in-house lab and has a full team of chemists—something that Ho called “relatively rare” for a brand at this stage.
 
“It has been such an important strategic decision for us to invest here because this is what keeps customers coming back to the brand time and time again,” she said about its in-house R&D capabilities.
 
Evereden’s R&D philosophy and ingredient selection is directed by its “Moms in Medicine” team—a trio of Ivy League dermatologists and moms. They are: Dr. Joyce Teng, MD, PhD, who is Evereden’s chief scientific officer and head of pediatric dermatology at Stanford Medical School; Dr. Sarina Elmariah, MD, PhD, a professor of dermatology at Harvard Medical School; and Dr. Rebecca Hartman, MD, PhD, an instructor of dermatology at Harvard Medical School. Drs. Elmariah and Hartman carry the title of scientific officer for Evereden.
 
Evereden owned its all of its formulations but worked with outside chemists. There were benefits in bringing that function in-house, according to Ho.
 
“Over time, we just found that we needed to respond more quickly to the market and our consumer. Our consumers were telling us every single day what they wanted. It just made sense to build out labs where we could be so obsessive over our formulations,” she said.
 
White Space Opportunities
 
Evereden’s range caters to the needs of baby, moms and most recently, children. Bestsellers include products like Nourishing Baby Face Cream, which is loaded with superfood oils to instantly nourish and soothe the more commonly dry, aggravated skin on baby's face; Baby Shampoo & Body Wash formulated  to be non-drying and nourishing; and Golden Belly Serum, an oil blend of active phytonutrients for stretch mark repair during during pregnancy and postpartum.
 

It’s a far cry from the days when an entire family shared a bar of soap and a bottle of shampoo in the shower stall.
 
The New York -based brand launched 25 SKUs in 2021 alone, a kid’s skin care and hair care line targeted to children aged 3 to 10 years old. Rolled out just six months ago, the kids range already comprises nearly 20% of the company’s sales. 
 
Kids products include body lotion, shampoo and conditioner, face wash, and face creams formulated with amino acids and Omega 3, 6 and 9. Scents include cool peach, melon juice and pomelo.
 
According to Ho, the 3-10 year-old demographic is fast-growing and underserved. 
 
The idea to develop this new range came from its customers. 
 
“For parents in generations past, the family product was a commodity. Nowadays, our consumer is highly educated, really into health and wellness, and really cares about the choices they make for their families,” Ho said. “You want your family moments and every day moments to be thoughtful and intentional and special.”
 
Acknowledging the arrival of other brands to serve these more discerning customers, Ho said Evereden is committed to its goal to be No. 1 premium multigenerational skin care brand. 
 
“We take the same thoughtful approach that you see in high-end women’s skin care and beauty—bringing innovation in ingredients and technology that you have seen for decades in skin care and beauty but not in family,” she said.
 
That means incorporating ingredients and botanical actives proven to be efficacious and healthy for skin, but hadn’t been used in the family category due to their cost. For example, Evereden formulates with materials like cold-processed organic sunflower seed oil, rose hip oil, centella asiatica and grapeseed oil.
 
What’s Ahead
 
The Series C funding will support Evereden’s channel expansion, too. Primarily operating as a DTC brand, it will land in a major beauty retailer in 2022. Evereden will launch globally across 90+ stores and online with Sephora.
 
 According to Ho, Evereden will be an “anchor brand” for Sephora in the premium multigenerational skin care space.
 
Additionally, Evereden plans to grow its omni channel presence in other markets—particularly in travel retail, a sector that it entered this year.
 
Product wise, Evereden plans to expand its SPF offerings after seeing success with its two new products¸ Sheer Botanical Facial Sunscreen SPF30 and Premium Mineral Sunscreen SPF30.
 
“We see a lot of potential in premium sunscreen,” said Ho, noting her team went through 50 iterations before settling on the final formulas.
 
It’s that attention to detail that Ho believes will help Evereden win over customers and market share in this rising category.
 
“Evereden has created a category of one in the skin care space by pairing innovation inspired by luxury beauty for families everywhere,” Richard Lim, founder and managing director of GSR Ventures, said in a statement when the Series C was announced. “The brand is bringing sensibility to family skin care in the most thoughtful way with effective, science-backed products created by mothers who work in medicine.”