Care/of Raises $12 Million Series A Led By Goodwater Capital

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Wellness Startup Emerges as Clear Leader in Personalized Health with
$15 Million Total Funding

NEW YORK–(BUSINESS WIRE)–Care/of,
the personalized vitamin and supplement company built on honest guidance
and top-tier ingredients, today announced the completion of a $12
million Series A financing round. The company, which launched in
November 2016, has now raised over $15 million in total funding.
Goodwater Capital led the round with participation from Tusk Ventures,
RRE Ventures, the co-founders of InVision, and the lead seed investor
Juxtapose.


The vitamin and supplement industry is ripe for reinvention around a
great, personalized customer experience. By bringing the experience
directly to the consumer and building their brand on honesty and
customization, Care/of has emerged as a market leader in an incredibly
short period of time,” said Chi-Hua Chien, Managing Partner of Goodwater
Capital who will be joining the company’s board of directors. “We are
excited to be a part of their vision of customized health and wellness.”

Based on the simple but fundamental belief that each person’s health
journeys are unique, Care/of’s innovative platform recommends a specific
mix of vitamins and supplements tailored to each user’s individual
health goals, lifestyle and values. To build each pack, Care/of users
answer a simple set of questions about their lifestyle, diet, routines,
health history and future goals, and the company delivers a monthly box
of specifically tailored packs directly to customers’ doors. By
leveraging scientific research and data, Care/of is able to make
recommendations on a personal level – and most people who go through the
survey receive a combination of supplements that is totally unique to
them.

This new round of funding enables Care/of to invest in its world-class
personalized fulfillment system, build top-tier data science
capabilities and continue to grow its team. The company also plans to
develop new products, including programs tailored towards specific
health goals, and launch a mobile app to further the consumer experience
and meet the demands of the company’s rapidly growing customer base.

Care/of is one of the fastest-growing companies in the
direct-to-consumer health and wellness space. Revenues for the business
have doubled every two months since launch – much of the growth driven
by the immense organic interest from consumer health journalists,
experts, and influencers. Care/of’s latest round of financing comes at a
time when sales continue to plummet for traditional brick and mortar
retailers in the supplement space, and the business is well positioned
to shake up the $39 billion vitamin industry. To date, over 200,000
users have consulted Care/of for guidance within the category, and tens
of thousands are active subscribers, a majority acquired through
word-of-mouth, press and social media channels like Instagram.

The ‘one-size-fits-all’ approach to health is outdated and
oversimplified. From the start we’ve been committed to reshaping the
health and wellness space by creating cutting-edge, interactive customer
experiences built on both transparency and personalization,” said Craig
Elbert, CEO and Co-founder of Care/of. “Our tremendous growth in such a
short period of time is a testament to the fact that consumer behavior
is changing and the vitamin shopping experience was indeed broken.”

Care/of is well positioned for future growth. In the eight months since
launch, the company has grown to 60 employees, including a fully
proprietary fulfillment center designed to deliver on the vision of true
personalization. In addition, the company has built a scientific
advisory board of leading doctors and nutritionists from Harvard and
Tufts, pioneered a new pre-natal program, opened a retail location at
Saks Fifth Avenue, and developed partnerships with leading brands
(including Casper, Outdoor Voices, Away, and more.) The company counts
Beth Kaplan, former President of GNC, and Jeff Barrett, former CTO of
Stitchfix, as advisors and has also taken investment from the founders
of Casper.

About Care/of

Care/of was founded in 2015 by Craig Elbert, formerly an executive at
Bonobos, and Akash Shah, an entrepreneur in the healthcare space. Based
in New York City, Care/of brings refreshing honesty and true
personalization to purchasing vitamins and supplements. The company
delivers personalized daily supplement packs straight to your door
monthly. Learn more about Care/of and its innovative solutions at www.takecareof.com
or on Facebook, Twitter, and Instagram @Careofvitamins.

Contacts

Press:
LaForce
Hannah Grace Miles, 646-374-0803
hmiles@laforce.nyc

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