Glossier Inc. has raised $80 million in Series E funding.

Lone Pine Capital led the round, along with participation from existing investors Forerunner Ventures, Index Ventures, IVP, Sequoia Capital, and Thrive Capital. The fully direct to consumer business will continue to scale its online and offline channels globally.

Emily Weiss, founder and CEO of Glossier, comments:

"When Glossier launched as a digitally native beauty company, we were an anomaly in our industry, which has been slow to innovate beyond brick and mortar. Now, nearly seven years into Glossier’s journey, our strategy and the expectations of beauty consumers everywhere are aligned: beauty discovery increasingly begins online as people look for inspiration from friends and strangers alike, and customers want to move fluidly between immersive and personalized e-commerce and retail experiences."

Weiss adds, "This is the future we’ve always been building for.”

Glossier Plans for Growth

Founded in 2014, Glossier has more than 5 million customers globally and has become a household name across generations, especially with Gen Z and Millennials.

According to the brand, two out of every five women between the ages of 18 and 34 in the United States have heard of Glossier.

Despite closing all retail locations early in the pandemic, the company continued to grow in 2020 thanks to its deep investments in online discovery and shopping, with year-over-year sales increasing across all product categories.
 
Last month, Glossier announced that it would reopen its owned retail channel, starting with three all-new, permanent stores in Seattle, Los Angeles and London later this year.

Known for an "immersive design," the company’s retail locations build the 3D world of Glossier and foster meaningful connections with and between customers, the company says. In 2019, more than 1 million people visited Glossier’s two permanent and five temporary stores.

Glossier will continue to scale its online and offline experiences, taking an e-commerce-first approach to entering new international markets, and deepening its presence through dozens of new stores planned for the United States and globally in the coming years.
 
“Glossier is resonant across generations and geographies, not only for its products, but for the sense of connection and belonging the brand inspires,” said Kelly Granat, portfolio manager at Lone Pine Capital. “The community that’s formed around Glossier’s approach to beauty, one that champions individual freedom and choice, has made Glossier’s direct relationship with its customers all the more powerful." 

Granat adds, "This is already an iconic and era-defining beauty company, and we’re excited to play a role in bringing Glossier experiences and products to people everywhere.”