Care/of Shutting Down: Personalized Vitamin Service Ends Operations

Personalized vitamin subscription service Care/of has announced it will cancel all subscriptions as of Monday, June 17, and will no longer accept new orders.

Care/of Shutting Down: Personalized Vitamin Service Ends Operations
Care/of Shutting Down: Personalized Vitamin Service Ends Operations

Personalized vitamin subscription service Care/of has announced it will cancel all subscriptions as of Monday, June 17, and will no longer accept new orders.

This development is not entirely unexpected. Care/of had previously informed the New York Department of Labor of its plans to lay off all 143 employees by July 3 due to a "funding loss." Now, the company has made its closure more definitive, with a post on Instagram thanking customers and stating, "We unfortunately no longer have funding to operate in the way we have been."

The Instagram post, however, does not completely shut the door on the possibility of a revival. The company stated, "We are actively exploring options for the brand but do not have anything definitive to communicate at this time. We hope to be in a place to share more soon."

Founded in 2016 by Craig Elbert and Akash Shah, Care/of asked customers to fill out a quiz about their lifestyle and values, which it used to recommend a personalized mix of vitamins and supplements. The company attracted investment from notable firms including Juxtapose, Goodwater Capital, Tusk Venture Partners, Bullish, and RRE Ventures, securing a total of $46 million in funding.

In 2020, pharmaceutical giant Bayer acquired a 70% stake in Care/of in a deal reportedly valued at $225 million. Earlier this month, Bayer's director of strategic communications Christin Miller told NutraIngredients that "ceasing further investment in Care/of will allow Bayer to better invest in future innovations to help people manage their personalized health."

The closure of Care/of will likely leave a significant void in the personalized health product market. Given the company's customer base and market impact, this development could reverberate across the industry. However, the future of the brand remains uncertain, and both investors and customers are closely monitoring any potential updates.

The founders and investors of Care/of might be exploring new financing options or different business models. As the situation evolves, it is crucial to stay informed about any developments that might emerge regarding the future of the brand.

Despite the current setback, the personalized vitamin service market continues to grow, driven by increasing consumer interest in tailored health solutions. The demise of Care/of highlights the challenges even well-funded companies can face in maintaining operations and securing ongoing investment in a competitive and evolving industry.