Social Bella Raises 927 Billion Rupiah Funding Led by Temasek and L Catterton

Startups beauty-tech Social Bella, owner brand of Sociolla, announced the acquisition of a new investment led by Temasek and L Catterton. East Ventures, Jungle Ventures and other investors who participated in the previous round also joined in this $60 million (over 927 billion Rupiah) round.

All investors who participated in this round were old Social Bella investors. L Catterton was the previous investor who led Social Bella's May 2021 funding of $57 million. Meanwhile, Temasek participated in the round worth $58 million in July 2020.

This fundraiser was considered a success despite the challenging macroeconomic conditions. Social Bella has proven sustainable growth, with increased margins and business expansion that has grown by 20 times since 2020.

In an official statement delivered by the company today (18/10), President and Co-Founder of Social Bella Christopher Madiam said, the sustainability strategy has been the core principle of Social Bella since it was first established and all of the company's bold steps are always taken into account.

“This is why we were able to generate tremendous growth despite the pandemic and raise new funds from major investors, validating our business model and strong fundamentals. While we have never been afraid to be an industry game changer, it is our relentless pursuit of sustainable growth over the long term that defines us and will continue to guide our path forward,” said Christopher.

Meanwhile, the Co-founder and Managing Partner of East Ventures Willson Cuaca, Social Bella's longtime investor, expressed his praise for Social Bella's proven track record of success in sustainable business. According to him, Social Bella has always been passionate about building a sustainable business that puts customers first.

For example, it was impressive to see how companies were able to turn pandemic challenges into expansion opportunities while adapting quickly to better serve the changing needs of millions of customers during the COVID-19 pandemic, with an extraordinary strategy never seen before in this industry.

"We've seen how the Social Bella team, from managing the company during the pandemic to post-pandemic, skillfully overtakes other players and goes fast during heavy rains," said Willson.

Christopher continued, Social Bella has ambitions to target the SHEconomy category in Southeast Asia, which is worth more than $10 billion. He is confident in positioning Social Bella as a clear industry leader in Indonesia through a number of achievements.

Among these, the Sociolla platform is claimed to have been visited by millions of monthly visitors, driven by the strength of its ecosystem, consumer focus, and technological capabilities. outlet omnichannel now spread to 48 points in 15 cities in Indonesia, and has even entered Vietnam which includes 13 locations. In that country, Social Bella brought local products for expansion. So far there are three brands, namely Esqa, Avoskin, and Carasun.

In addition, launching Purple, a business unit focused on the mother and baby market, is gaining significant traction. Just like Sociolla, Lilla has also reached a new milestone through the opening of the first physical store in Indonesia which has received a positive response from the market.

Apart from Lilla, Social Bella has transformed from its initial e-commerce platform into a complete ecosystem supported by other business pillars. Namely, super app SoCo, a beauty and lifestyle media with end-to-end O2O marketing Beauty Journal services, and Brand Development, a beauty and personal care product distributor service from upstream to downstream.