Glossier Branded a Unicorn after Latest Round of Funding

The New York-based beauty start-up raised US $100 million in Series D funding led by Sequoia Capital

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SAN FRANCISCO CA  SEPTEMBER 07  Glossier Founder and CEO Emily Weiss speaks onstage during Day 3 of TechCrunch Disrupt SF 2018 at Moscone Center on September 7 2018 in San Francisco California  Photo by Steve JenningsGetty Images for TechCrunch
Getty Images for TechCrunch

Founded by Emily Wiess in 2014, direct to consumer beauty brand Glossier has been branded a unicorn after the latest round of investment brought its valuation up to US $1.2 billion, tripling the value it garnered with a $52 million Series C in 2018.

“We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders,” Weiss said in a statement.

Prior to this latest round, Glossier had raised $86 million last year and was valued at $390 million. According to the WSJ, Weiss was vague about plans to go public, saying: “We are certainly in a position where…we are able to do that.”

Weiss posted a screenshot of the WSJ article on her Instagram page with the caption: “Baby me in 2014 wasn’t sure if we could afford the next hire, didn’t know if anyone would like her idea for a beauty company, was engaged to be married, and hardly knew a venture capitalist from a bank teller. Emily in 2019 has been through hell and high water to build an incredible company with incredible people, endured heartbreak and experienced new love, and been among a very small minority of women raising this kind of money at these kinds of prices, to build the things they believe in. Today Glossier was able to achieve something very special. And all it means, is that we get to keep building things that make people happy. On this day especially, I am so excited to say: go team go.”

Since launching as a beauty blog in 2010, Glossier has grown into a 200-person business with $100 million in annual revenue in 2018. Despite only having two brick-and-mortar shops (one in New York and another in Los Angeles) the WSJ reported that the brand added a million new customers last year, many of whom are millennials who found it through social media.

Known for its barely there makeup aesthetic, the recent launch of its first spin-off brand, Glossier Play, hints at the possibility of Glossier presenting a product offering that allows it to compete with the likes of Ulta and Estée Lauder in years to come.

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