Key Takeaways:The makeup brand launched by celebrity makeup artist Gucci Westman in 2018 has raised $15 million.Existing backers Imaginary Ventures and Prelude Growth Partners participated in the round.The investment news followed Axios reporting that the beauty company's sale process had gone quiet.Westman Atelier secured new funding to focus on growth and wait out market conditions for a more favorable strategic exit environment.WHO: Westman Atelier was founded in 2018 by makeup artist Gucci Westman with her husband and business partner David Neville, co-founder of Rag & Bone. The range is grounded in clean formulations targeted to older millennials. The brand launched in Barneys New York with a six-piece collection that adhered to its skin-first approach to makeup and positioned clean beauty formulations alongside high-performance results. In 2021, it expanded into Sephora. Its distribution includes specialty beauty retail and department stores domestically and internationally.DETAILS:Existing investors Prelude Growth Partners and Imaginary Ventures, and Westman, which participated in Atelier's latest $15 million funding round, were revealed in a filing with the US Securities and Exchange Commission (SEC).In 2019, Prelude Growth Partners made a minority investment in Westman Atelier.G9 Ventures, Electric Feel Ventures, and Fernbrook Capital Management participated in earlier funding rounds. Andrew Rosen, former Chief Executive Officer of Theory and an investor in Rag & Bone, was also an early investor in the business.According to PitchBook, Westman Atelier has raised $36.9 million to date.