Glamsquad, an on-demand beauty service has raised $15 million in Series B round of funding led by New Enterprise Associates along with existing investors SoftBank Capital, Lerer Hippeau Ventures, Montage Ventures and AOL’s BBG Ventures.
Founded in 2014, Glamsquad is a mobile beauty service that brings home or office or wherever you are hair stylists, makeup artists or nail techs saving a trip to the salon. It hit great success by bringing elite independent beauty professionals directly to clients’ home, offices, hotels and other locations. Well-known for quality, consistency and convenience, the startup ensures delivery of unparalleled beauty experience and confidence to many time-starved women in New York, Los Angeles and Miami every week.
Glamsquad depends on a large group of contractors who tend to book jobs in their spare time for some extra income. The company is currently headed by Gilt Groupe co-founder Alexandra Wilkis Wilson who joined as co-founder and CEO in 2014. The startup earlier raised $7 million in Series A funding led by SoftBank Capital. Adding this with the new funding has raised the total raised funds to $24 million.
With the fresh funds, Glamsquad intends to boost its growth all over the country, widen its engineering and marketing capabilities and explore preliminary development of new products and services. The new products and services would include bridal services, GLAMSQUAD-branded products and e-commerce capabilities. Further to this round of funding, Dayna Grayson, a general partner of NEA has joined the Board of Directors of GLAMSQUAD.
Regarding this funding round, Wilson said, “This financing is the result of continued, record-setting growth. Each week, we hit new appointment count and revenue records. We have quintupled our run-rate revenue from just one year ago and are looking ahead to expansion in Washington, D.C, Dallas, Chicago and many more cities.”
Grayson said, “GLAMSQUAD has developed a unique and powerful brand in less than two years and is poised to take increasing share of the massive $100 billion market for beauty services and products. I’m thrilled to partner with this team as they build on their rapid growth and begin to execute on a national scale.”