Consumers — especially Millennials and Gen Z — are starting to care more and more about whether the products they use are sustainably produced. So Grove Collaborative launched to sell beauty and cleaning products that are good for you and your home, in addition to being good for the planet.
The idea is getting investors excited, which is why Grove Collaborative was able to raise $125 million in a new funding round announced this week. This brings the company’s valuation to over $1.3 billion.
Grove Collaborative CEO and founder Stuart Landesberg confirmed the news to Yahoo Finance on Thursday. The company didn’t immediately respond to a request for comment from Built In.
The company has built a marketplace for eco-friendly home and beauty products that sells products from other brands (like Method and Mrs. Meyer’s), its own products, as well as products the company creates through collaborations. For example, Grove released a line of soaps, cleaners, kitchenware and more with TV personality and interior designer Jeremiah Brent.
Grove Collaborative is also a registered B Corp and makes sure it runs its business in a sustainable way. Earlier this year, the company pledged to be plastic-free by 2025. That means the company is removing plastic from every product it makes and sells. The company also previously pledged to plant one million trees by 2022.
“I think Grove exists because consumers are increasingly taking more control and realizing that we need to to take more control over the ingredients in our products and also the packaging of our products and our single-use-plastic addiction is insane and needs to change,” Landesberg told Yahoo Finance on Thursday.
In addition to landing new investment, the San Francisco-based company is also growing. It is currently hiring for roles in a number of departments including engineering, product, finance and HR.
