Indonesia’s beauty-tech startup Social Bella raises US$58M Series E from Temasek, Pavilion, Jungle Ventures
Social Bella, a company that runs a string of internet properties in the e-commerce space in Indonesia, including e-commerce platform Sociolla, has secured US$58 million in additional funding as part of its ongoing Series E round from Temasek, Pavilion Capital and Jungle Ventures.
As per an official statement, the company will use the capital to further boost its growth in the local beauty and personal care market, which, according to Euromonitor, is expected to grow to US$8.5 billion by 2022.
A portion of the money will also be used to scale up its technology infrastructure.
John Rasjid, Co-founder and CEO of Social Bella, said: “We recently launched our new business line, Lilla by Sociolla (lilla.id), specifically for young and sophisticated mothers who are looking for the best-curated products for children and themselves too. There are growing needs for good quality products by this customer group and we will strive to deliver our best to serve their needs.”
Launched in 2015, Social Bella has evolved from being beauty e-commerce to a complete ecosystem that seeks to unlock Indonesia’s growing beauty and personal care market. The company claims that it has created several business units and is estimated to serve around 30 million users in 2020.
So far, it has built add-ons that complement its overall beauty and care ecosystem, such as:
- SOCO, an online consumer review platform for beauty and personal care products
- Beauty Journal, an online beauty and lifestyle media with O2O marketing service
- Sociolla, a beauty and personal care e-commerce in Indonesia, which now also has an offline store with the OmniChannel concept
- Lilla by Sociolla, a beauty and personal care e-commerce service specifically designed for Indonesian mothers
- Brand Development, the business unit that offers end-to-end distributor service for beauty and personal care brands.
According to its Co-founder and President Christopher Madiam, the COVID-19 pandemic has massively challenged almost all businesses globally. However, Social Bella is adapting quickly to the challenge and continue to serve our consumers’ needs.
“With our integrated ecosystem backed by technology and based on a deep understanding of Indonesian consumers, we can still serve our consumers in a relevant way while remaining competitive,” Madiam added.
Last year, Social Bella completed its ecosystem as an integrated beauty-tech and end-to-end brand distributor in Indonesia by launching a flagship omnichannel store in Lippo Mall Puri.
At present, Social Bella owns six physical stores across the country.
Previously, Social Bella secured a Series D investment of US$40 million in September 2019. The investment was led by East Venture Growth, Temasek, Pavilion Capital, and Jungle Ventures.