GlossGenius, the business-in-a-box platform designed for small beauty businesses, has secured US$28m in its latest funding round led by investment company L Catterton.
The US-based company provides software to help beauty and wellness business owners manage their operations, provide a better experience for clients and grow their businesses.
It will use the funds – which Bessemer Venture Partners and Imaginary Ventures also contributed to – to further develop its business, delivering more advanced products and services and better customer experience.
Services include helping clients to manage workflow, as well as building websites, payments, booking, inventory, expenses, marketing and more.
- L Catterton invests in make-up newcomer Dibs Beauty
- Maesa awards $35,000 grant to support minority-owned beauty start-ups
- Exclusive: Feelunique founder's new teen brand Indu lands £2.8 million funding
"Large shifts in the beauty and wellness industry have provided a significant opportunity for vertical operating systems to create unprecedented value," said Danielle Cohen-Shohet, CEO and founder of GlossGenius.
"We have been helping our business customers grow revenue by 25-100% and save hours of manual work every single day, driving financial success for local entrepreneurs.
“Our team's demonstrated ability to consistently bring the best products to market with the most intuitive user experiences has enabled our customers to think bigger and run better businesses.
“This round will help us extend our leadership and continue to support these businesses."
The latest round of investments brings the company’s total funding to approximate $70m, after it reportedly saw triple-digit growth in the last year.
It is L Catterton’s second investment this month, after backing Italian skin care brand Irene Forte Skincare for an undisclosed sum.