Madison Reed, a US-based online hair colouring product retailer, received $16.1m in series C funding on Monday from investors including cable company Comcast’s corporate venturing unit, Comcast Ventures.
Norwest Venture Partners, which invests on behalf of financial services provider Wells Fargo, Shea Ventures and True Ventures also participated in the round.
Founded in 2013, Madison Reed develops haircare and colouring products that are free from harsh chemicals such as ammonia. It also offers a personalised hair assessment service delivered by licensed colourists.
Madison Reed intends to work with broadcaster NBCUniversal, a Comcast subsidiary, to increase its marketing efforts through TV advertising. The funding will also help the company further develop its technology.
Norwest previously led a $12m series B round for Madison Reed in February 2014 that included True Ventures and Maveron. True Ventures had already led the company’s $4m series A round in 2013, which also featured Maveron and assorted angel investors.