NEW YORK--(BUSINESS WIRE)--Eurazeo today announced a $75 million minority investment in Jaanuu, Inc. (“Jaanuu”), a direct-to-consumer designer and manufacturer of premium, performance-oriented medical apparel and accessories. Jaanuu is one of the fastest growing brands in the multi-billion dollar medical apparel market as a result of its innovative designs which deliver maximum functionality and comfort. Eurazeo’s investment brings Jaanuu’s total capital raised since its founding to approximately $100 million.
Jaanuu—derived from the Hindi word for life, “Jaan”— 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.
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 trial, 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.
Jill Granoff, Eurazeo managing partner and Brands CEO, said:
“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.”
Shaan Sethi, Jaanuu co-founder and CEO, added:
“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.”
Jaanuu is a physician-led brand that designs innovative healthcare apparel to fuel the body and nourish the mind by incorporating performance, style and empowerment. Co-founded in 2013 by Dr. Neela Sethi Young and her brother and former private equity investor Shaan Sethi, the mission of Jaanuu is centered around achieving greatness in life, or "Jaan" in Hindi, through a mind-body connection. With a practicing Pediatrician at the helm, Jaanuu is deeply in tune with the challenging journey of a healthcare professional. Through science-backed data, proprietary technologies and antimicrobial-finished fabrics, Jaanuu creates apparel and accessories that empower healthcare professionals to look, feel and perform their best. For more information, visit www.jaanuu.com, and follow Jaanuu on Instagram, Facebook and Twitter @JaanuuByDrNeela.
- Eurazeo is a leading global investment group, with a diversified portfolio of €27 billion in assets under management, including €19.2 billion from third parties, invested in over 450 companies. With its considerable private equity, private debt, and real estate expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
- Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin, Milan and Madrid.
- Eurazeo is listed on Euronext Paris.