Madison Reed hair colour closes $25m financing round

By Lucy Tandon Copp 24-Oct-2017

Capital will be used to expand the company’s business in e-commerce and through its Color Bars

Madison Reed, a prestige hair colour brand, has closed a $25m Series financing round.

The brand, which is based in San Francisco, US, helps consumers find their ideal hair dye to use at home, delivering salon-quality colour for under $25.

As well as selling online, Madison Reed operates Color Bars in NYC and San Francisco, where licensed colourists are on hand to advise clients.

With the added investment it plans to open in 25 locations by the end of 2019.

Amy Errett, Madison Reed CEO and co-founder, said: “The reaction to our Color Bar concept has been astounding.

“We have focused on catering to women who are comfortable doing their hair color at home,  and we will continue to do so.

“Now with the Color Bars, we also have a solution for women who want the help of a professional Madison Reed colourist, while saving time and money."

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The financing round was led by Comcast Ventures, with involvement from previous investors Norwest Venture Partners, True Ventures and Calibrate Ventures.