Sahajan, an eight-year-old Ayurvedic skincare brand, has raised funds from institutional investors through a privately-held, oversubscribed pre-Series A funding round that closed in four weeks.
Who: In 2015, former pharmaceutical executive Lisa Matam launched Sahajan, named after the Hindi word for “intuitive,” to fuse the power of Ayurveda, an integral part of South Indian tradition, with clinical science to create clean products. The range consists of 13 products, priced from $13 to $64, and is sold at Detox Market, Credo, Amazon, The Bay, Well-Ka, TSC, and Beauty Heroes.
why: The equity raise will fuel growth initiatives including increased marketing spend, retail expansion, clinical trials and new product launches. The brand recently signed a three-year global hotel deal with JW Marriott for 200,000 rooms across Ritz-Carlton, Marriott, St. Regis and W Hotels.
In their own words: “We are thrilled to announce this funding and the brand’s expansion into North America, solidifying Sahajan’s position as a leader in Ayurvedic clean beauty,” said Lisa Matam, CEO and Founder of Sahajan. “I started the brand with a clear mission: to bring ancient Ayurveda and its proven, high-performance ingredients to the beauty industry to create products with unparalleled efficacy. This funding and strategic hotel expansion will allow millions of people around the world to experience the power of Sahajan.”
“Sahajan is Ridgeline’s first investment in the beauty industry, and we’ve been incredibly impressed with what Lisa has accomplished, especially her strong base of returning customers and sustained growth with a focus on profitability,” said Arie Disterhoft, vice president at Ridgeline Ventures. “Consumers are more discerning than ever, and Sahajan’s combination of attributes such as ‘clean’ and ‘highly effective’ has allowed her to build high trust among her growing customer base.”
“There aren’t many skin care products I want to put on my face, but Sahajan is an exception,” says actress Yvonne Strahovski. “It’s beautiful, clean products that are backed by both Ayurveda and clinical science. I haven’t received more compliments on my skin since I started using Sahajan products.”
“Sahajan’s authentic approach to Ayurvedic beauty, along with its rigorous clinical science, is what is most important to me and a big part of what drew me to the brand, and now I want to share it with so many others who hold it as sacred,” said author Rupi Kaur.
detail:
- Sahajan closed its oversubscribed Pre-Series A with participation from Ridgeline Ventures, Wonderment Ventures, Top Knot Ventures, Lululemon’s President of Americas and Global Guest Innovation Celeste Bugoin, actress Yvonne Strahovski, author Rupi Kaur and dermatologist Dr. Shannon Humphrey.
- Except for a loan from the Business Development Bank of Canada, Sahajan was self-funded.
- The brand has seen a 90% CAGR in e-commerce revenue from 2019 to this year, with cumulative profits over the same period.
- Sahajan is a digital-first brand and has seen growth in retail sales, which now account for approximately 25% of its overall business. In addition to growing retail and attracting new customers, Sahajan continues to build a particularly strong community, with 14% of its lifetime value coming from customers who have purchased 10 or more times.
- Approximately 75% of the brand’s sales are generated through its website.
- Sahajan appointed Albert Chong, ILIA’s former vice president of digital, to lead the digitalization effort.
