dcsimg
RealTime IT News

MotherNature.com Raises $42 Million

Concord, MA-based natural products retailer MotherNature.com Inc. raised $42 million in its third round of financing.

The company said it will use a significant portion of the funds to build its brand's presence nationally as well as expand its distribution capability. With this round of financing, the company said it has raised over $61 million of equity capital in the past 12 months.

The $42 million venture financing was led by North Castle Partners and includes investments from Group Arnault, GCC Investments and Barnard & Co, as well as existing investors including CMG@Ventures, Bessemer Venture Partners, Morgenthaler Ventures and BancBoston Ventures. The placement agent was BT Alex. Brown.

"With compounded sales growth of over 40 percent per month since December and this additional round of financing, we are poised to be a leading force in the marketplace," said Michael Barach, president and CEO of MotherNature.com.

"MotherNature.com has assembled the top e-commerce team in the category to carry out its aggressive growth plans," said Brent Knudsen of North Castle Partners. "With its seamless execution of marketing, merchandising, customer service and fulfillment, MotherNature.com has every reason to be bullish about its future."

This month, the company expanded its off-line media campaign to reach over 30 percent of the United States population; and by June MotherNature.com will roll out a $10 million campaign into 13 additional markets, reaching 39 percent of the country.

MotherNature.com, Inc. markets vitamins, supplements, minerals, and other natural products, and has a selection of more than 30,000 items.