Birchbox raises $60 million in Series B funding
Birchbox is an online beauty sample box company that has raised $60 million in Series B funding, giving the company a $485 million valuation. The news was first reported by Fortune. This new round of funding was led by Viking Global Investors with participation from First Round Capital, Accel Partners, Aspect Partners, and Consigliere Brand Capital. Beauty samples from Birchbox costs $10 per month. Birchbox reportedly generates around $125 million in revenues per year.
Based in New York, Birchbox has 250 employees and works with 800 brands. The company has 800,000 subscribers. Birchbox previously raised $12 million in outside funding. This additional funding will be used for marketing campaigns, including TV and magazine ads. It will also be used for international expansion, including Canada. Birchbox will be developing its own brand of products as well.