If you check out the multi-vitamin selection at your nearest pharmacy you’ll notice very little selection. If you want a multi-vitamin tailored to your specific body concerns you are out of luck…until now. HUM Nutrition, thanks to their ultra specific formula, provides custom-made vitamins made to keep your skin body feeling fresh. Affecting mind, body and soul, the vitamins are non-gmo, gluten-free, natural, clinically tested, researched and formulated by leading nutrition experts. Starting their second company together, the creators of V Water are back at it and giving us the supplements we need to feel more like ourselves.
LA TechWatch chatted with cofounder Walter Faulstroh about the company and their latest round of funding.
Who were your investors and how much did you raise?
We raised a Series A of $5 Million in total from Circle Up Growth Partners, Imaginary Ventures and Strand Equity.
Tell us about your product or service.
We are a beauty vitamin and supplement company. HUM’s unique and ultra specific formulations are designed around skin and body concerns. All formulations are made in California, Non GMO, Gluten Free, Pure and Potent. Working with the best scientists, HUM has developed innovative supplements for fuller hair, stronger nails, dry skin, acne and breakouts, fine lines, digestive support, stress, energy and weight.
What inspired you to start the company?
My personal struggles with breakouts were my biggest inspiration.
The vitamin industry is completely outdated so we revisited the entire experience from free nutritionist advice that we offer to our consumers, to products rooted in science and packaging you are actually proud to share on social.
What market you are targeting and how big is it?
We are primarily targeting millennials, but HUM can be used for everyone.
What’s your business model?
We have a dual route to market including prestige beauty retailers and our direct to consumer subscription business. Both channels are on fire.
How do you see the role of vitamin’s changing?
I see less need for generic products like multivitamins and an increased need in helping with specific beauty concerns.
What was the funding process like?
Running your own business equates to two full time jobs at least, so fundraising is painful and lengthy, it’s a full time job on top of full time job on top of a full time job!
What are the biggest challenges that you faced while raising capital?
Finding an investor that truly understood our business.
What factors about your business led your investors to write the check?
Our growth, data driven approach and overall vision. It also helped that my cofounder Chris Coleridge and I had already started a successful company before.
What are the milestones you plan to achieve in the next six months?
We are fully focused on implementing the plan we already made a year ago that assumed a Series A. Scaling with the right team and infrastructure.
What advice can you offer companies in Los Angeles that do not have a fresh injection of capital in the bank?
Cash is king. So focus on your bottom line while also growing your topline.
Where do you see the company going now over the near term?
We are solidifying our position as the leader in the beauty nutrition space and are going into exciting new formats.
Do you prefer hiking or surfing in LA?
What I really love is skiing.