Julep raises $30 million in funding
Julep is an online cosmetics and beauty company that has raised $30 million in Series C funding from Azure Capital, Madrona Venture Group, Altimeter Capital, Andreessen Horowitz and Maveron. Julep was founded by former former Starbucks executive Jane Park.
Julep creates its own nail polishes, nail polishes, mascaras, moisturizers, lip glosses, etc. Julep also has a monthly subscription service to distribute its products.
Julep uses crowdsourcing on Twitter, Facebook, and Instagram to determine the types of products to create. Juleps operates several salons and stores in the Seattle area where they receive customer feedback from customers in person. Retailers like Sephora and Nordstrom sell Julep products.
Over 300 Julep-branded products have been launched every year. Revenues for the company tripled in 2013. Since Julep creates its own products, the margins are low.