Glossier, a US-based cosmetics retailer backed by talent and media agency Endeavor, secured $80m yesterday in a series E round led by hedge fund manager Lone Pine Capital.
The round included venture capital and growth equity firm IVP as well as VC firms Forerunner Ventures, Index Ventures, Sequoia Capital and Thrive Capital. It valued the company at $1.8bn, according to Business of Fashion.
Founded in 2014, Glossier sells a range of skincare, makeup and fragrance products through online channels as well as in permanent and temporary stores.
After closing all its brick-and-mortar stores in the early stages of the covid-19 pandemic, the company announced last month that it would open three new permanent stores in Seattle, Los Angeles and London.
Glossier intends to scale both its online and offline offering, with plans to open dozens of additional stores globally in the coming years.
The company has raised at least $266m in total, including $100m in a series D round in early 2019 that was led by Sequoia Capital and backed by Tiger Global Management, Spark Capital, Forerunner Ventures, Thrive Capital, IVP and Index Ventures. It reportedly valued Glossier at $1.2bn.
IVP and Index Ventures co-led a $52m series C round for Glossier in 2018, after the pair had provided $24m in series B funding in 2016.
Glossier received $8.4m in its 2014 series A round, which was led by Thrive Capital and which featured WME, the talent agency which has since evolved into Endeavor, as well as Toms Capital, Manzanita Capital, 14W, Box Group, Forerunner Ventures, Lerer Hippeau, Jay Brown and Andy Dunn.