Sociolla Pockets New Funding Worth 841 Billion Rupiah

Social Bella, owner brand from service E-commerce Beauty Sociolla, announced funding of US$58 million (over 841 billion Rupiah) from global investors, including three previous investors, namely Temasek, Pavilion Capital, and Jungle Ventures. This investment comes amid turbulence in the overall business environment due to the Covid-19 pandemic.

Mentioned, the funding will be used to improve the technology infrastructure. Investor support is in line with the company's target to bring its position to unlock growth potential with a sustainable business model and a comprehensive ecosystem.

Previously, these three investors participated in Series D . round in September 2019 for $40 million. The round was also followed by EV Growth.

Co-Founder and President of Social Bella Christopher Madiam said the pandemic was a challenge for all businesses globally. But he claims, his party is able to adapt quickly to serve consumer needs.

Seen from the increase organictraffic significantly on the platform during the quarantine period and set a record for the highest shopping cart size online. Although, the claim is not accompanied by numbers by Christopher.

"We are proud that both existing and new investors see the tremendous potential of our ecosystem and are very supportive of our business plan," he said in an official statement, Monday (6/7).

Jungle Ventures Managing Partner David Gowdey added that his investment in Social Bella is an important milestone for the company's progress in Indonesia. Social Bella is a beauty company that provides a holistic ecosystem like never before.

"This additional investment will strengthen our partnership with Social Bella and allow Jungle Ventures to expand regionally," said Gowdey.

Lilla by Sociolla

Social Bella Co-Founder and CEO John Rasyid explained, with strong support from the technology aspect in their daily routines, the company wants to provide a better shopping experience for its consumers.

“Recently we launched a new line of business, Lilla by Sociolla devoted to mothers looking for the best product curation for their children and themselves. We see there is an increasing need for quality products in this consumer segment and we are trying to provide the best,” he said.

Besides Lilla, Social Bella has continued to expand its services since it was first released in 2015. First, is SOCO, a platform online consumer reviews for beauty and personal care products. Second, Beauty Journal, which is an online media for beauty and lifestyle with O2O marketing services from upstream to downstream.

Third, Sociolla, site E-commerce beauty who now has six offline stores with the concept omnichannel. Lastly, Brand Development, a business unit that offers distributor services end-to-end for beauty and personal care brands for leading international manufacturers.

It is believed that all of these business units can reach around 30 million users this year.