Fast-Growing Beauty Brand, GLAMSQUAD Raises $15 Million

by Tom Smith

(Pictured Above): Alexandra Wilkis Wilson, Co-founder and CEO of GLAMSQUAD

GLAMSQUAD, the market leader in mobile beauty services, raises $15 million Series B financing round from New Enterprise Associates (“NEA”) , with participation from existing investors SoftBank Capital, Lerer Hippeau Ventures, Montage Ventures and AOL’s BBG Ventures.

GLAMSQUAD, which launched in January 2014, has rocketed to success bringing elite independent beauty professionals directly to clients’ homes, offices, hotels and other locations. Known for quality, consistency and convenience, GLAMSQUAD delivers an unparalleled beauty experience and confidence to thousands of time-starved women in New York, Los Angeles and Miami each week. In total, GLAMSQUAD has raised $24 million to date. As part of this Series B round, Dayna Grayson, a general partner of NEA, has joined the GLAMSQUAD Board of Directors.

GLAMSQUAD intends to use the proceeds of this round to accelerate its growth nationwide, expand its engineering and marketing capabilities and explore preliminary development of new products and services. Areas of focus will include bridal services, GLAMSQUAD-branded products and e-commerce capabilities.

“This financing is the result of continued, record-setting growth,” says Alexandra Wilkis Wilson, Co-founder and CEO of GLAMSQUAD. “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.”

“NEA is a perfect partner for GLAMSQUAD as the Company continues to build a powerful new distribution system for beauty services and products,” says Jason Perri, the Company’s Co-founder and Chairman.  “The team is excited to leverage NEA’s expertise in building and scaling consumer brands and marketplaces.”

Dayna Grayson, general partner of NEA, added, “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.”

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