Althea operates an online platform exporting and selling Korean cosmetics and beauty products to Southeast Asian markets. Launched in July 2015, it sources products in Korea to introduce new, trendy items to Indonesia, Malaysia, Singapore and the Philippines, and plans to enter Thailand and Vietnam before the end of the year. The company exports all products directly out of Korea and maintains an office in Kuala Lumpur. Althea intends to introduce its own-label products by early next year and expects it will likely need additional funding to bring that brand to market. It employs about 25 staff, claims 500,000 monthly unique visitors, reports an annualized run rate of over $10 million in revenue, and says it is growing at 30% per month. Management stated the business is on track to reach profitability by the end of the year. Althea operates an ecommerce platform that sells authentic Korean skincare, makeup, cleansers and pack-and-mask products packaged in a beauty box. The company sources and delivers products from a warehouse in Korea and emphasizes reasonable pricing and a strong returns policy. Co-founded by Frank Kang, Christopher Cynn and Jae Kim, Althea is based in Kuala Lumpur, Malaysia. The company raised seed funding from 500 Startups (amount undisclosed). It intends to use the funds to continue growing across Southeast Asia, specifically in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. No revenue or user metrics were disclosed in the article.

Total raised

$4M

Funding rounds

2

Latest round

Series A

Latest activity

May 2016