Glowbar, the skincare brand whose custom 30-minute, $65 clinical-grade facial has made it a breakout success in New York, has received a $10 million growth investment led by Peterson Partners, a Salt Lake City-based firm whose investments have included Allbirds, solidcore, Bonobos, Rails Clothing, and Madison Reed.
WHO: Rachel Liverman, a third-generation aesthetician, launched Glowbar in 2019 to deliver effective results and customized experiences. Glowbar's 30-minute, $65 clinical-grade treatment lives at the intersection of a dermatology practice and a spa to help consumers reach their skincare goals without the pain points of time, expense, and lack of confidence. Services include dermaplaning, chemical peels, extractions, LED, microcurrent, and high frequency. The brand currently owns and operates six studios in New York and Connecticut.
WHY: Glowbar will use the investment to double its studio count by the end of 2023 by growing its tri-state area footprint and expanding to additional markets along the Eastern seaboard. The capital will also go towards leadership headcount and state-of-the-art training for Glowbar's 100+ licensed aestheticians.
IN THEIR OWN WORDS: "Glowbar is changing the way people take care of their skin, and we've spent the past few years perfecting our studios' operations while honing in on exactly what our clients are looking for, all of which have given us a real runway for growth in the wellcare category," said CEO and founder Rachel Liverman. "We have built a strong foundation and want to continue to offer the best facials out there. So much of this raise is timed to prioritizing our forever first client—our team—and with new markets on the horizon, it felt like the natural moment to scale and further our mission to deliver digestible, results-driven skincare to the masses."
“Glowbar has found a white space in the very saturated beauty world meeting an unfulfilled need for a quick, but extremely effective facial," said Alli Webb. "With Rachel's long history and love of skincare coupled with Glowbar's results driven approach, this brand is ripe for massive expansion and growth. Glowbar is a game changer and is already seeing tremendous demand for their refreshingly simple and affordable concept. It reminds me of the early days of Drybar and I couldn't be more excited and humbled to be an advisor and contributor to this one-of-a-kind business."
"Seeing Rachel's deep history and knowledge of the skincare industry, coupled with her thoughtful approach to taking the facial out of the dermatologist's office, made it a natural fit for me to sign on as an advisor. Her vision for this brand is remarkable, the studio model is poised to scale, and the service model is outstanding. It's a win on all fronts," said Marla Beck.
"We are thrilled to partner with Rachel and her team. Consumers are increasingly prioritizing beauty and skincare and they love the Glowbar experience. We see a big opportunity to build on our New York success in other markets across the country," said Brett Stohlton, partner at Peterson Partners.
DETAILS:
