Glossier, the US-based cosmetics brand that counts talent agency William Morris Endeavor (WME) as an investor, secured $100m yesterday in a series D round led by venture capital firm Sequoia Capital.
Hedge fund manager Tiger Global Management and VC firms Spark Capital, Forerunner Ventures, Thrive Capital, Institutional Venture Partners (IVP) and Index Ventures also took part in the round, which valued the company at $1.2bn, a person familiar with the matter told the Wall Street Journal.
Glossier sells make-up, fragrances, skincare and bodycare products through an online-based, direct-to-consumer business model.
The company more than doubled its revenue to more than $100m in 2018 and recently launched Glossier Play, a second brand that focuses on more colourful and glittery products, as opposed to the company’s core products which concentrate on a more natural look.
Emily Weiss, Glossier’s founder and chief executive, said: “We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders.
“Thanks to this direct relationship with our customers, we have access to endless inspiration for new products, experiences, and ways of building an enduring business – all while staying true to our core belief that beauty should be a celebration of individuality and personal choice.”
Glossier has now received a total of $186m in equity financing, $52m of which came in a February 2018 series C round co-led by IVP and Index Ventures. The same two investors had supplied $24m of series B funding for the company in 2016.
WME had contributed to an $8.4m series A round in 2014 that was led by Thrive Capital and backed by Toms Capital, Manzanita Capital, 14W, Box Group, angel investors Jay Brown and Andy Dunn and existing backers Forerunner Ventures and Lerer Hippeau Ventures.
Photo courtesy of Glossier.
