GlossGenius – a business-in-a-box platform for small businesses in the beauty and wellness sector – recently announced a $28 million Series C funding round. This equity round was led by the Growth Fund of L Catterton, a leading global consumer-focused investment firm, with participation from Bessemer Venture Partners and Imaginary Ventures. And this is the second up-round for GlossGenius in the last year and has brought the company’s total funding to approximately $70 million.
The company helps tens of thousands of small business owners across the U.S. manage their operations, create a cohesive client experience and build successful businesses. And with billions of dollars in annualized activity on the platform, GlossGenius saw its business grow by triple-digit percentages in the last year, underscoring its position as one of the fastest-growing companies in the industry.
Small business owners have used GlossGenius as their primary business infrastructure to manage end-to-end workflows across their back-office and front-office, like payments, booking, inventory, expenses, marketing, etc. This additional funding round will accelerate GlossGenius’ development of its platform following its recent release of a myriad of consumer experience, payment, and automation products.
The additional funding will fuel GlossGenius’s continued innovation and enable the company to deliver even more advanced products and services to support entrepreneurial business owners in the beauty and wellness vertical.
KEY QUOTES:
“Large shifts in the beauty and wellness industry have provided a significant opportunity for vertical operating systems to create unprecedented value. We have been helping our business customers grow revenue by 25 – 100% and save hours of manual work every single day, driving financial success for local entrepreneurs. Our team’s demonstrated ability to consistently bring the best products to market with the most intuitive user experiences has enabled our customers to think bigger and run better businesses. This round will help us extend our leadership and continue to support these businesses.”
— Danielle Cohen-Shohet, CEO and Founder, GlossGenius
“Given our deep expertise in beauty and our investments in disruptive software businesses across consumer verticals, we see a compelling opportunity to serve these businesses with better and more powerful tech. The overwhelming enthusiasm displayed by GlossGenius’ customers is a testament to the product’s excellence and the company’s position as the go-to platform in the industry. We are thrilled to leverage our expertise scaling consumer and technology businesses to support GlossGenius’ ambitious growth plans.”
— Ian Friedman, a Partner in L Catterton’s Growth Fund
