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Glossier Raises $80 Million Series E

July 09, 2021 BeautyMatter
July 09, 2021
Cedrik Malabanan via Unsplash

Glossier has raised an $80 million Series E at a reported valuation of $1.8 billion. This round brings the company's total funding to date to more than $265 million.

WHO: Founded in 2014, Glossier is on a mission to inspire everyone to find joy and confidence in their personal beauty style. Glossier's 39 products—modern essentials spanning skincare, makeup, body, and fragrance—are priced between $12 and $60. The company has more than 5 million customers globally and has become a household name across generations, especially with Gen Z and millennials; two out of every five women between the ages of 18 and 34 in the United States have heard of Glossier.

WHY: The company will use the new funding to scale its online and offline experiences, taking an e-commerce-first approach to entering new international markets, and deepening its presence through dozens of new stores planned for the United States and globally.

IN THEIR OWN WORDS: "When Glossier launched as a digitally native beauty company, we were an anomaly in our industry, which has been slow to innovate beyond brick and mortar," Emily Weiss, Glossier CEO and founder, said in a statement. "Now, nearly seven years into Glossier's journey, our strategy and the expectations of beauty consumers everywhere are aligned: beauty discovery increasingly begins online as people look for inspiration from friends and strangers alike, and customers want to move fluidly between immersive and personalized e-commerce and retail experiences."

Glossier's new investor, Kelly Granat at Lone Pine, said that Glossier is an "iconic and era-defining beauty company," and that the firm wanted to play a role in bringing the brand's products and experiences to "people everywhere."

DETAILS:

  • Glossier raised an $80 million series E at a reported valuation of $1.8 billion, bringing the company's capital raised to more than $265 million.
  • The round was led by Lone Pine Capital, with participation from existing investors Forerunner Ventures, Index Ventures, IVP, Sequoia Capital, and Thrive Capital.
  • According to the company, despite closing all retail locations early in the pandemic, the company continued to grow in 2020 with year-over-year sales increasing across all product categories.
  • In March 2019 Glossier raised $100 million in Series D funding at a $1.2 billion valuation, led by Sequoia Capital with participation from Tiger Global Management, Spark Capital, and existing investors Forerunner Ventures, Thrive Capital, IVP, and Index Ventures.
  • According to US search data from Spate, searches for Glossier have declined by 54.4% year-over-year as of May, with an average of 946,600 monthly searches. The company's body care category is gaining attention, with Glossier Body Hero garnering 31.3% more searches year-over-year.
  • Glossier's earned media value via social media declined 45% between May 2020 and May 2021, according to data from Tribe Dynamics.
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