In what Forbes staff writer Clare O’Connor (whose specialty is women entrepreneurs) describes as “one of the largest rounds of funding raised by a woman-led startup in recent years,” Glossier banked $24m in series B funding.
Community and content
Glossier was developed out of the online beauty community intothegloss.com. That site began publishing in 2010 and specializes in interviews and blog posts that feature models, makeup artists, accomplished women, and the editors’ views on beauty products.
Glossier the brand launched in October 2014 with a collection of skin care. Founder Emily Weiss told the press at the time that, “over the past four years running Into The Gloss, I saw the need for a beauty brand that speaks to its consumers directly, offering them a chance to engage beyond the traditional touch points of purchase, use and mass marketing.”
“That’s what we’ve created with Glossier—a beauty brand that we want to be friends with,” she explained. “We offer a uniquely immersive brand experience that culminates in our pre-curated collection of products developed for our customers by us, and delivered to them from us.”
Dollars and sense
Wednesday, Weiss went direct-to-consumer with the company’s latest funding news. In a blog post on intothegloss.com titled, How We Raised Our Latest Round Of Funding, she announced to the brand's friends that the company has secured $24m. This funding round was led by the investment firm IVP.
In the post, Weiss also outlines the company’s two previous funding rounds. Thrive Capital led the series A round for Glossier, which amounted to $8.4m. And the seed round was boldly and wisely led by Kirsten Green of Forerunner Ventures.
Strategy and growth
Weiss tells her readers, “this cash infusion will help us see through our vision of Glossier becoming a truly global community. That means launching products in two new categories, opening permanent retail…and yes, finally going international.”
She goes on to emphasize that Glossier will “continue to invest in new technology, because we think every woman should have the ability to be connected through her beauty knowledge, opinions, products, and routine.”
Company headquarters are in New York City, and Glossier has opened its office doors to consumers in the past—for summer Friday events where shoppers could test products and interact with the people behind the brand and in the community. Glossier has also held pop-up events in the city as well as in Chicago and Los Angeles.
And the first retail store seems close at hand; in her post this week Weiss shared a photo of the space under construction.