France's Eurazeo announces $75 million minority investment in Jannuu

Eurazeo’s investment brings Jaanuu’s total capital raised since its founding to approximately $100 million. Jaanuu was founded in 2013 by siblings Shaan Sethi and Dr. Neela Sethi to provide healthcare professionals with modern, technologically advanced and stylish apparel that empowers them to perform at their best. The company is disrupting the medical apparel industry, which has traditionally been dominated by legacy brands sold via specialty brick and mortar retailers, by offering better fit, fabrics, functionality and comfort through accessible digital channels. The company has invested heavily in its leadership team in the past year as it plans for the next phase of global growth, Eurazeo said in a press release.

Jaanuu is establishing a new board of directors with decades of deep industry expertise to guide and support the company’s accelerated growth. The five-member board will include: Jill Granoff, Eurazeo managing partner and brands CEO; Shaan Sethi, Jaanuu co-founder and CEO; John Kenney, Cult Capital co-founder and partner; Sean Collins, Goldfinch Partners managing partner and former BCG Digital Ventures founder; and Anan Kashyap, Ethos CFO and former Poshmark CFO.

Eurazeo’s partnership with Jaanuu will support brand marketing investments to build awareness and drive trials, as well as continued investment in product innovation. Eurazeo will also leverage its global network to support Jaanuu in growing its customer reach and geographical footprint. Jaanuu is the 12th investment by Eurazeo’s brands team, and the first in the consumer healthcare space.

“Jaanuu is an authentic, doctor-led, digitally-native brand that is disrupting the traditional medical apparel market by delivering high-performing modern scrubs with the convenience of online shopping. Shaan has assembled an impressive and experienced management team to continue taking market share in the large medical apparel industry, and we look forward to partnering with the company to capitalize on its growth potential,” Jill Granoff, Eurazeo managing partner and brands CEO, said in a statement.

“We are excited to continue supporting all the healthcare professionals that put other people’s needs ahead of their own each and every day. We created Jaanuu to provide healthcare professionals with scrubs offering superior design, comfort and performance, enabling them to provide better patient service. We are excited to partner with Eurazeo to increase our brand awareness and accelerate our global growth,” Shaan Sethi, Jaanuu co-founder and CEO said.

Fibre2Fashion News Desk (GK)