Direct-to-consumer beauty startup Glossier has joined the ranks of unicorns.
After raising $100 million in series D funding, Glossier now has a $1.2 billion valuation. Sequoia Capital led the round, along with a number of other investors, including Tiger Global Management, Spark Capital, Forerunner Ventures, Thrive Capital, IVP, and Index Ventures, according to The Wall Street Journal.
Emily Weiss, founder of Glossier, started the brand in 2010 as a beauty blog called Into the Gloss. Four years later, she launched the beauty and skincare line called Glossier, and earlier this month the company started its spinoff brand, Glossier Play.
Glossier reportedly generated more than $100 million in revenue last year, primarily reaching its customers online—the company currently has only two permanent retail locations, in New York and Los Angeles. Despite this, it added a million new customers last year, many of whom are millennials who found the brand through social media, the WSJ reported.
Prior to this round, Glossier last year had raised $86 million and was valued at $390 million. According to the WSJ, Weiss refused to discuss whether Glossier plans to go public, noting, “We are certainly in a position where…we are able to do that.”
