Slimgoods says it has raised $3.2 billion in funding for its health products company
Slimgood has raised a record $3 billion in Series B funding from a consortium led by SoftBank and led by the US investment firm Bain Capital.
The funding comes on the heels of a $3 million round in December, a fund led by China’s Alibaba Group Holding Group and Singapore’s Bayshore Capital, and a $1.5 billion round led by a Japanese company.
“We’re excited about this first round and the opportunity to further expand our product line,” said Adam Biesinger, president and CEO of Slimgood.
“We have an incredible team of talented, smart, committed people and are very excited to be working with them and bringing these new products to market.”
The funding will allow Slimgood to expand its product portfolio and expand into other industries, including medical and pharmacy.
“Our focus is going to be on delivering quality, affordable products that our customers love and rely on, and we look forward to building on the strengths of our existing portfolio of products, including our Slimfoods line of natural slimming products,” Bieslinger said.
The $3-billion Series B is valued at $5.3 billion and will go toward paying for a new headquarters in Seattle, and for the acquisition of more than 30 patents, including patents on the new slimming product.
It also allows the company to increase the amount of money it spends on research and development and to increase its focus on the next phase of its business.
Slimgood is one of the world’s largest online retailers for natural products and slimming solutions, and it also operates online pharmacies.
Its products are used by millions of Americans, including celebrities, politicians, and other high-profile figures.
Its health-focused line of products includes Slimgood’s Slim Foods line, which is made from a blend of ingredients, including coconut oil, olive oil, coconut water, and vitamins C and E, as well as a range of natural and non-natural ingredients, and Slimgood Health, which includes its Natural Health line of weight loss supplements, vitamins, minerals, and health-related supplements.
It is also in the process of expanding into the medical space.