7/10/2020 Nashville, TN based personal-care brand Beast Brands, Inc. has closed its Series A funding round of over $3 million led by Louisiana based venture capital firm Callais Capital Management with participation from Capital Innovators, Sand Hill Angels, and others.
From Beauty Independent:
The personal care brand known for invigorating formulas has raised over $3 million in a series A round led by Callais Capital Management with participation from Sand Hill Angels and Capital Innovators, one of two accelerators it’s participated in. The Brandery is the other. In a tough environment for VC deals, the round demonstrates strong investor confidence in Beast, a direct-to-consumer specialist that’s kept consumers’ bathrooms stocked with staples amid the pandemic.
“This investment will allow us to focus on product improvement and marketing. We will be offering more reduced plastic and reusable packaging, more natural formulas and more products aimed at a whole range of Beasts,” says John Cascarano, President and Founder of Beast Brands.
Mark Graffagnini, Partner at Callais Capital adds:
“We appreciated Beast Brands’ consistent growth, their brand positioning, and especially the experience and qualifications of the management team.”
This year, Beast’s growth has been exponential. Sales of Beast’s hero items Wash for Everyone and Bar Soap have spiked 220% during the global health crisis as homebound shoppers turn to e-commerce to purchase everyday personal care.
“All of the trends that were happening are being expedited. People are shopping more online, and people are buying things that are essential or close to essential, so soap, body wash and shampoo,” says Cascarano. “Our hand wash has been flying out the door. We turned off our social ads because we had trouble keeping it in stock.”
“We are constantly chasing energy and refreshment in our lives and, for me, the shower was my happy place where I wanted to turn it up.”
Beast was born as Sasquatch Tame The Beast in 2013 as part of Lock & Mane, a beauty e-tailer serial entrepreneur Cascarano started with his dermatologist father-in-law about a decade ago and sold in 2015. In 2014, Lock & Mane and dryshampoo.com, another of Cascarano’s entrepreneurial pursuits, hit $6 million in revenue. Cascarano also co-founded Fresh Dog, Fresh Cat and Mental Floss, the digital magazine. Preceding Beast’s series A round, Crunchbase estimates the brand raised two seed rounds and a pre-seed round.
Sasquatch Tame The Beast quickly ditched Sasquatch after receiving a cease and desist letter from a company using Sasquatch, too. In 2015, Beast Brands trademarked the term Beast for grooming products. Cascarano says, “There is no better name anyone is going to have. It’s got everyone excited who works for and with us.” The brand’s name evolution has happened as it’s moved to become unisex. Hyper masculine at the beginning, Beast has dropped gendered language from its copy. Its current consumer base crosses gender barriers. This year, Cascarano says 40% of its customers are women. Last year, women only constituted 10% of its customers.
With the funding from the series A round, Beast intends to amplify customer acquisition efforts with Facebook, Instagram and podcast advertising, and gym and influencer partnerships.
Out of the gate, Extreme Yawp Beard, Hair & Body Wash with caffeine, moringa, eucalyptus and green tea broadcast the sort of bold products that would become Beast’s modus operandi. “I wanted a product for me first. I all of a sudden had responsibilities for my kids and my parents who were getting older, and didn’t have energy,” says father-of-three Cascarano….” We are constantly chasing energy and refreshment in our lives and, for me, the shower was my happy place”
Today, Beast’s assortment spans 45 products priced primarily from $5 to $29. With the guidance of United States national soccer team player Kelley O’Hara, VP of brand engagement and product strategy at Beast Brands, the brand has been reducing its environmental impacts. It supports sustainability initiatives through 1% For The Planet and has released Beast Bottle, a refillable and reusable aluminum bottle, as well as refill pouches of its wash, conditioner and shampoo to replenish the bottle.
Cascarano says refills contribute roughly a third of Beast’s sales, and the brand is doubling down on them with upcoming products, including hand wash in a glass bottle. The floppy plastic pouch refills are costly compared traditional packaging, and Cascarano says they eat into profits. However, he notes customers buying them spend greater amounts on Beast products.
Cascarano has been looking into a machine enabling Beast Brands to fill the plastic pouches itself. Ultimately, his goal is to shift the company toward becoming a vertical operation, from cultivating eucalyptus to manufacturing its personal care merchandise. Cascarano doesn’t envision Beast Brands rolling out multiple brands. Instead, he imagines it possibly creating collections with athletes such as O’Hara. He details the athletes would own shares in Beast Brands, and it would introduce products addressing their unique needs.
About Callais Capital Management
Callais Capital Management is a Louisiana based investment firm that operates venture capital funds focused on the growing startup ecosystem along the Third Coast and Mississippi River Valley. The Callais team leverages their background in entrepreneurship, investing expertise, and deep roots in a market underserved by institutional investors, to identify high-growth opportunities and top management teams in need of capital. They draw from four generations of business insight, a distinguished network of professionals and deep board experience across industries to source, scale mentor, and strengthen startups and founders. Callais Capital is a Louisiana Registered Investment Advisor. For more information about Callais Capital Management: www.callaiscapital.com
About Beast Brands
At Beast Brands, we create personal care and grooming products for Beasts of all kinds. Our all-in-one Tame the Beast® body washes, shampoos and conditioners, soaps, lotions and shaving supplies feature arousing scents and energizing properties and are produced in the U.S.A. with globally sourced ingredients. Their stimulating scents are derived from all-natural, intense botanicals you can feel—good stuff from the earth like eucalyptus, ginseng, guarana, green tea, pomegranate, bakuchiol and moringa.
We’re earth friendly (check out our reusable, infinitely recyclable Beast Bottle and smellcoming scents packed with sustainably sourced ingredients), intimacy positive, and celebrate all Beasts. Whatever skin you’re in, our products aim to make you feel happier there. For more information about Beast Brands, Inc.: http://www.getbeast.com
Some Additional Coverage:
https://news.yahoo.com/beast-brands-raises-3-million-174054222.html
https://www.venturecapitaljournal.com/beast-brands-scores-over-3m-series-a/