By Kelly Kovack. This article originally appeared in Beauty Matter on May, 2, 2019.
Sekhmet Ventures, the newly formed venture capital firm in the beauty and wellness market, closes deal three with an investment in Los Angeles-based Needed PBC. Able Partners and Finn Capital Partners also joined the seed round.
WHO: Needed was founded by co-CEOs and co-founders Julie Sawaya and Ryan Woodbury and is a mission-driven company that develops nutritional supplements that are nature-first and clinically validated for their superior absorption. The company pairs its products with fundamentals-focused nutritional education, and a community of fellow learners, to empower their customers to identify and meet nutritional gaps at every stage of life. Needed’s products are sold direct to consumers and through referrals by the company’s substantial community of health and wellness practitioners.
Sekhmet Ventures is a venture capital company in Silicon Valley that invests worldwide in science-based companies addressing the clean beauty and wellness market. Sekhmet Ventures has assembled a team which supports its portfolio companies with expertise in manufacturing and regulatory compliance. This infrastructure and support not only accelerate the growth and de-risk the business plans of the portfolio companies, they also increase the efficiency of the Seed through Series B investments on which the firm is focused. The current portfolio of investments consists of Heretic Parfum and Stamba.
IN THEIR OWN WORDS: “Needed is taking an integrative, science-based approach to improving the nourishment of consumers at every stage of life,” said Barbara Paldus, Founding Partner, Sekhmet Ventures. “As a company, they are uncompromising, from their attention to ingredient sourcing, nutrient pairings and nutrient delivery, to their emphasis on clinical validation and ‘real-world’ testing through their community of health practitioners, Needed’s thoughtful approach to nutrition perfectly aligns with Sekhmet’s goals and ambitions in the rapidly expanding beauty and wellness market.”
“We are thrilled to partner with Sekhmet to introduce our products and education to a broad community of customers and practitioners. Sekhmet understands that any company can put ‘natural’ and ‘science-backed’ on a label, but only a few can back it up both clinically and operationally,” said co-CEO and co-founder of Needed, Julie Sawaya. Ryan Woodbury, also co-founder and co-CEO, added, “We’ve spent years developing our first products, and proving their efficacy with clinical-rigor and community involvement. Along the way, we’ve partnered with many of the brightest minds in nutrition. We’re excited to now partner with Sekhmet Ventures in this next phase of strategic growth for our company.”
Photo: Anastasia Dulgier via Unsplash