Beauty industry data startup Poshly has received $1.5 million in Series Seed funding. Frontier Equities VC led the round with participation from other investors that included Astia Angels, CPEG Ventures and WI Harper Group. According to the firm, the capital infusion will be used to add more personnel to its tech team in San Francisco.
NEW YORK, NY (August 7, 2014) — Poshly, a startup whose proprietary platform captures valuable consumer intelligence for the beauty industry, today announced the closing of a $1.5M Series Seed round of financing. The new funding follows an undisclosed seed investment from earlier this year, bringing the company’s total raise to more than $2M. Frontier Equities VC led the round, joined by Astia Angels, CPEG Ventures, WI Harper Group, and additional private investors. Poshly expects to use the new funds to expand its technology team in San Francisco.
“With this new round of funding, we look forward to growing the breadth and depth of our engineering and design teams,” said Poshly CTO and co-founder, Bradley Falk. “These new team members will help guide product development and the culture of our San Francisco office.”
Launched in 2012 by CEO Doreen Bloch and CTO Bradley Falk, Poshly has developed a platform that incentivizes consumers to share insights about themselves and their product preferences. Brands, agencies and publishers in the $382B beauty and personal care products industries use Poshly’s anonymous, aggregated data for real-time consumer insights and targeting. Some of Poshly’s brand clients include L’Oréal, Unilever, Interpublic Group, Weleda, Borghese, illuMask, Bluebeards Original, Montagne Jeunesse and more. To date, consumers have answered more than six million questions about beauty and personal care on Poshly’s platform.
“In just a few years, we have seen the tremendous value to brand professionals of hard-to-capture consumer data,” said Poshly CEO and co-founder, Doreen Bloch. “With this investment, our team looks forward to refining our distinct platform for brands and consumers.”
For more information, visit http://poshly.com
About Poshly Inc.
Poshly is the data company for the beauty industry. Since launching in 2012, Poshly’s community of consumers have provided millions of insights about themselves and their beauty routines. Poshly offers beauty and personal care brands real-time access to consumer insights (Poshly Insights) and “smart sampling” campaigns that leverage beauty statistics to hyper-target products (Poshly Precision). Poshly is a recipient of L’Oréal’s NEXT Generation Award and has been named “Best of the Web” by InStyle magazine. Poshly is headquartered in New York City, with team members in Los Angeles and San Francisco, CA. For more information, please visit: www.poshly.com; on Facebook at www.facebook.com/LivePoshly or Twitter @LivePoshly.
About Frontier Equities VC
Frontier Equities is a privately held venture capital firm based in New York. The firm invests in early to mid-stage companies in any sector that demonstrate the potential for rapid revenue growth. Frontier Equities VC’s past investments include Glaceau/Vitaminwater that exited to Coca-Cola in 2007 and Nurture Inc./Happy Baby that exited to Group Danone in 2013. For more information, please visit: http://www.frontierequitiesvc.com/.