Madison Reed, the startup which takes care of your graying hair by delivering the professional hair color at your doorstep has locked in $16.1 Million in the latest round of funding consisting of their previous and a couple of new investors.
The startup will mostly use the funds to scale the business along with growing in marketing, specially on the TV. At the time of online revolution where the brands are taking to online medium to connect to the audience, the TV commercial strategy of Madison Reed seems quite interesting. TV viewership has been declining gradually, specially in case of the young adults in the age group of 18-25.
The push to the TV environment comes as a result of partnership with Comcast ventures and the startup is looking to connect to the women in their late 30s through television because surveys have shown that women watch a lot of live television once their hair start to turn gray.
“I saw how exceptionally ambitious the company is, and I’m looking forward to continuing the relationship to innovate their product and the way they connect with their audience through TV and our media channels,” managing director at Comcast Ventures Sam Landman told reporters about the investment.
There are 2 new additions to the list of existing investors which included Norwest venture partners and True Ventures, Comcast Ventures is joined by Shea Ventures in the series C round.
There are quite a lot of competitor products available out in the market, however, Madison Reed provides the comfort of delivering it at your doorstep and boasts of high quality product.