Yesterday, according to report, OSEA, the seaweed-based skin care brand founded in 1996 by mother-daughter duo Jenefer and Melissa Palmer, has secured a strategic growth investment from General Atlantic to accelerate its global expansion. The deal, announced Tuesday, will see CAVU Partners fully exit its stake in the brand, which it acquired in 2020. Terms of the transaction were not disclosed.
Melissa and Jenefer Palmer will retain significant ownership and continue leading the brand’s day-to-day operations, while General Atlantic’s Andrew Ferrer and Ben Sherman will join OSEA’s board of directors. The brand said it plans to strengthen its presence in core markets and expand internationally, beginning with Mexico through Ulta Beauty’s store rollout, and later moving into Asia.
“OSEA’s mission has always been rooted in sustainability, innovation and values-driven beauty,” said Melissa Palmer, cofounder and CEO. “General Atlantic’s commitment to entrepreneurship and impact perfectly aligns with our vision, and we believe this partnership will help us scale while staying true to our heritage.”
Founded nearly three decades ago, OSEA has become a cult-favorite in clean beauty, with products like its award-winning Undaria Algae Body Oil, Anti-Aging Body Balm and Hyaluronic Sea Serum driving annual sales of roughly $100 million across retail and direct-to-consumer channels. The brand is sold in the U.S. through Ulta Beauty, Nordstrom and specialty retailers.
General Atlantic, whose beauty portfolio includes Vegamour and Kayali, said the investment underscores its confidence in the clean beauty category. “OSEA is a rare brand that combines three decades of family values, consumer trust and category leadership,” said Ferrer. “We’re honored to help carry the family’s legacy forward and support their vision for global growth.”
