Social Bella secures US$ 40 million series D funding
JAKARTA - Social Bella Indonesia (Social Bella), known through its beauty e-commerce business line, Sociolla, has re-established its position as the leading beauty-tech company in Indonesia by announcing a Series D funding of US$ 40 million.
The funding was led by EV Growth and Temasek along with other new investors, namely EDBI, Pavilion Capital, and Jungle Ventures.
Social Bella's Co-Founder and President Christopher Madiam said, "We are very proud and grateful for the support and trust given by EV Growth, Temasek, EDBI and all other investors in realizing Social Bella's vision to advance the beauty industry in Indonesia."
Cumulatively, there are more than 20.2 million visitors who have joined the Social Bella platform since 2018, both through the Sociolla website, the SOCO platform, and Beauty Journal. Christopher aims to reach 100 million unique visitors in SOCO, Sociolla.com and Beauty Journal in 2021.
Previously, Social Bella closed C series funding led by EV Growth, a joint venture of East Ventures), SMDV, and Yahoo! Japan Capital. Istyle Inc., a publicly-listed beauty-tech company in Japan, and UOB Ventures also participated in the series C series funding in 2018. (LM)