OSEA has a new investor.
The seaweed-infused skin care brand has entered into a definitive agreement to receive a strategic growth investment from General Atlantic, it said Tuesday.
Terms of the deal were not disclosed, apart from that CAVU Partners, which invested in OSEA in 2020, will fully exit its investment following the close of the transaction.
As part of the deal, mother-daughter founders Jenefer and Melissa Palmer will retain a significant stake and lead the brand’s day-to-day operations and strategy, while General Atlantic’s Andrew Ferrer and Ben Sherman will join the OSEA board of directors.
With General Atlantic’s investment, OSEA plans to deepen its presence in core markets and expand internationally. The latter will start with Mexico where it will enter via Ulta Beauty, which is opening stores in the country. In addition to this, OSEA also has its eyes set on Asia.
“General Atlantic’s long-standing commitment to supporting entrepreneurship, sustainability and impact perfectly aligns with OSEA’s mission. We’re confident that this partnership will create exciting opportunities for innovation and global expansion, while remaining true to our roots and shared values,” said Melissa Palmer, cofounder and chief executive officer, OSEA.
Of investing in OSEA, Andrew Ferrer, managing director at General Atlantic, said: “OSEA is a rare brand that combines three decades of family values, consumer trust and category leadership. We are honored to partner with Melissa, Jenefer, and the OSEA team to help carry the family’s legacy forward and to support their vision for clean beauty innovation and global expansion.”
OSEA’s current beauty investments include Vegamour and Augustinus Bader.
Ferrer told WWD he is bullish on the category: “It’s a great category where you’ve seen tremendous brands grow. We try to orient towards brands that we feel have a very authentic history, great products, tons of consumer love and the opportunity to keep expanding. So by that nature, we end up having to be selective, but we still have a lot of interest in the category.”
OSEA, which was founded in 1996, derives its name — an acronym for ocean, sun, earth and atmosphere — from the seaweed blend and other botanicals it incorporates into its products.
Among its hero products, its Undaria Algae Body Oil was named one of the greatest skin care products of all time by WWD Beauty Inc in February 2024. Other top sellers include its Anti-Aging Body Balm, Hyaluronic Sea Serum and Collagen Dream Night Cream. Sources pegged the brand’s net sales at around $100 million annually, about an even split between retail and the brand’s website. In the U.S., it is available at Ulta Beauty, in addition to Nordstrom and smaller specialty retailers.
