Birchbox said Monday that it has raised $60 million in Series B funding. Viking Global Investors led the round with participation from previous backers that included First Round Capital, Accel Partners, Aspect Partners, Glynn Capital, Comcast Ventures, Sam Lessin, Consigliere Brand Capital, Slow Ventures, Red Swan Ventures and TriplePoint Venture Growth BDC Corp. Headquartered in New York, Birchbox is a beauty ecommerce firm.
NEW YORK – April 21, 2014 – Birchbox (www.birchbox.com), a leading beauty ecommerce company, today announced it has closed a $60 million Series B funding round led by Viking Global Investors, along with a syndicate of existing investors including First Round Capital, Accel Partners, Aspect Partners, Glynn Capital, Comcast Ventures, Sam Lessin, Consigliere Brand Capital, Slow Ventures, Red Swan Ventures and TriplePoint Venture Growth BDC Corp. The investment will enable Birchbox to accelerate its mission to build the best beauty ecommerce company, supporting continued investment in existing initiatives, global growth and expansion and new growth opportunities.
Birchbox’s discovery focused business model changed the DNA of the beauty and grooming industry by presenting a new, efficient way for consumers to shop online within a category of products usually predisposed to a touch-try-feel experience. The new shopping model also gives suppliers a tangible and quantifiable way to track return-on-investment of product sampling. The company expanded into Men’s in 2012, and to Europe in the same year with the acquisition of an international competitor, while also growing its ecommerce business to account for a significant percent of company revenue in just over three years.
“We are constantly working to provide our customers and brand partners with the best possible experience and insights,” said Katia Beauchamp, Co-Founder and Co-CEO, Birchbox. “With Birchbox, we are growing the existing beauty market by inspiring new customers to shop; we’ve learned where to invest for a leading industry position, and this raise will allow us to further grow our footprint and position in the beauty industry.”
Since its 2010 launch, Birchbox has experienced rapid, viral growth, having amassed more than 800,000 subscribers, 800 brand partners, 6,500 products in the ecommerce shop, and 250 employees worldwide. Birchbox will use the funding to continue to tell its story through marketing initiatives, refine its mobile application, fortify Birchbox Man and develop its team worldwide.
Launched in 2010, Birchbox is leading beauty and grooming ecommerce company for men and women. Birchbox redefines the retail process by offering consumers a personalized way to discover, learn about and purchase the best beauty, grooming and lifestyle products. With more than 800,000 members, Birchbox users enjoy first-touch experiences with new products each month and exclusive access to expert editorial content to help them get the most out of each item. Additionally, through Birchbox’s online store, customers can shop a handpicked selection of full-sized products from more than 800 top brands such as Lancôme, Laura Mercier, Benefit, Stila, Caudalie, Payot, L’Occitane, Bourjois, and L’Oreal. In 2012, Birchbox acquired an international competitor gaining outposts in France, Spain and the UK. To learn more about Birchbox, visit www.birchbox.com, or follow us on Facebook, Twitter, YouTube and our blog.