Rae, a socially-conscious, women-led wellness brand dedicated to supporting the well-being of all, today announced the close of a $9.5 million Series A investment round led by PowerPlant Partners. PowerPlant Partners is joined by M13 and Able Partners, two existing Rae investors, and supported by initial capital investor Victress Capital.
The financing provides Rae with the capital runway it needs to accelerate growth to become the leading wellness brand in the ingestible supplement category while defining a new enterprise model for consumer wellness. Rae’s holistic universe champions innovation in wellness alongside emerging wellness categories such as sexual, hormonal and mental health. Rae’s pure and powerful supplements lead with affordable pricing and evidence-based formulas that are always vegan, non-GMO, and free from gluten, artificial preservatives, harmful fillers and colorants.
“Rae fits squarely in line with our focus on investing in high growth, disruptive consumer brands generating an impact through wellness and social responsibility,” said PowerPlant Partners partner Dan Gluck. Adding to that, vice president Julianne Hummelberg shared, “Rae stands for wellbeing for all and its vision to help all to shine from the inside resonated deeply with us and is clearly resonating with consumers.”
Demand for Rae’s supplements have skyrocketed since the brand’s 2019 debut and were further accelerated by the COVID-19 pandemic. At this critical inflection point, existing investor Victress Capital injected a capital infusion to propel growth and set the stage for additional growth support through Series A financing.
“We are excited to have found investing partners who believe in our vision, team and potential to support all consumers – especially underrepresented individuals – to feel their best from the inside out through a universe of supplements that nourish the body and mind,” said Angie Tebbe co-founder and Rae CEO. “Our entire holistic universe is rooted in the philosophy of creating effective, consistent and high-quality yet affordable formulations that benefit consumers in areas where they need the most support and shine in a category full of over-priced alternatives. The demand for this philosophy is there, and consumers’ interest in wellness not going away any time soon—in fact, consumers are aware of their mental and physical well-being more so than ever. We’re on a mission to help all consumers shine from inside, and, with this funding, we’re just getting started.”
“Wellness is no longer seen as an occasional indulgence, but rather, an intentional lifestyle. Consumers are more empowered to take control of their physical and mental health. Rae meets consumers where they are at by combining evidence-based high-quality supplements with educational content and a supportive community that celebrates feeling our best. We are excited to continue to partner with Angie Tebbe and the team at Rae to increase access to wellbeing for all,” said Alison Ryu, partner at Able Partners.
Rae financing follows a period of remarkable growth, having expanded from Target in 2020 to retailers including Amazon, Anthropologie, Thrive Market and more. The brand is on target for triple digit growth in 2021.
“Rae is an incredibly special part of the M13 portfolio, having started as a concept within Launchpad that Angie and her team scaled into a beloved national brand. In Angie’s capable hands, the idea that wellness can be affordable became a stand-out line of quality products in form factors that consumers want and are available everywhere. We’re thrilled to continue in Rae’s journey to support the well-being of all,” said Carter Reum, co-founder and partner at M13.