Spotlight Oral Care announces new £10.2m investment
Premium oral care brand Spotlight Oral Care has announced a new €12m (£10.2m) investment by Irish development and growth capital fund manager Development Capital, enabling it to further drive its international expansion into Europe and the United States.
Founded in 2016 by sisters and dentists Dr. Vanessa and Dr. Lisa Creaven, the company’s aim is to bridge the gap between oral care and oral beauty, while offering a personalised and sustainable alternative to generic oral care.
All 17 of the company’s products have been created by the brand’s co-founders, with their clinical expertise, toxin-free formulations, and eco-friendly packaging key differentiators amongst competitors in the market.
Spotlight Oral Care has experienced significant demand and growth over the past 18 months, with turnover trebling in the last financial year. Both its product range and distribution channels have expanded significantly, with premium stockists in the UK including Cult Beauty, Boots and Look Fantastic.
The £10.2m investment is expected to help to continue the company’s international expansion throughout Europe, the UK, and the US., with last year’s turnover of €19 million projected to triple in the next 3 years.
The new investment will also help attract and secure new talent for the company’s growing international senior management team, supporting product innovation and helping grow both their online and retail presence.
As part of the investment, the company will welcome Andrew Bourg, Co-Founding Partner of Development Capital and Partner of BDO to its Board of Directors.
Dr. Vanessa Creaven, Spotlight Oral Care Co-Founder and CEO said: “This investment by Development Capital is a pinnacle moment for us in the business as we have experienced rapid business growth in the last 12-18 months.
“The financial support and expertise that comes with this investment will allow Spotlight Oral Care to expand further and continue to help us revolutionise oral care. We are thrilled to be working with a team that supports SMEs like us and look forward to having Andrew on our Board of Directors.”