Glossier exceeds billion dollar valuation with new $100 million investment

The New York skin care and make-up brand was founded by Into The Gloss blogger Emily Weiss

via Instagram/@glossier

Glossier, the popular direct-to-consumer make-up brand, has now been valued at US$1.2bn in its latest round of Series D funding.

Driven by the US company’s social media influence, Sequoia Capital led the deal, including new investors Tiger Global Management and Spark Capital, and Glossier’s existing partners.

Launched by lifestyle blogger Emily Weiss in 2014, Glossier now has more than 200 employees and operates in the US, Canada, the UK, Ireland, France, Denmark, and Sweden. Earlier this month, the company unveiled sub brand Glossier Play.

Weiss, founder and CEO of Glossier, said: "We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders.

"Thanks to this direct relationship with our customers, we have access to endless inspiration for new products, experiences, and ways of building an enduring business – all while staying true to our core belief that beauty should be a celebration of individuality and personal choice."

Since its launch, revenues have soared by up to 600% year-on-year.

In 2018, Weiss secured $34m in funding from San Francisco venture capitalists.

"Glossier has built an exceptional brand and relationship with its customers, and its business fundamentals are equally impressive," added Michael Abramson, Partner at Sequoia.

"This is one of the most efficient direct-to-consumer businesses we've encountered, and with this new capital, we believe Glossier is well positioned to define the next era of the beauty industry."

Companies