09.09.21
Beauty Pie has announced it has raised $100M in series B funding. Marcia Kilgore created the luxury beauty buyers' club, and aims to expand into new markets, including wellness and supplements.
The brand also plans to open more warehouses, pop-up shops and launch a new membership model for devotees, dubbed "Beauty Pie Plus."
The new funding round was co-led by Index Ventures with Insight Partners. Existing investors include Balderton Capital, General Catalyst and Latitude VC, which brings the company's total funding to date approximately to $170M.
Beauty Pie experienced exponential growth during the acceleration of direct-to-consumer shopping due to the pandemic, and doubled its number of members this year.
Danny Rimer, Partner at Index Ventures, comments, "Beauty Pie delivers huge value to its customers demonstrated by exceptional member loyalty over many years. It's a model that marries true industry disruption with customer obsession - a winning combination."
Rebecca Liu, principal at Insight Partners, says, "Marcia has spent decades building businesses that genuinely treat customers the way she would want to be treated, and Beauty Pie is the epitome of that ethos."
Beauty-industry expert Marcia Kilgore founded Beauty Pie in 2016. The brand gives customers access to world-class quality health and beauty products manufactured at the industry's leading third-party labs, including products from exclusive suppliers in Switzerland, France, Germany, Japan, Italy, the UK, and the USA.
Rather than luxury markups, Kilgore says the brand offers direct-from-the-warehouse prices.
"We are about empowerment, self-worth, and encouraging customers to demand more out of life, even if that means starting with their makeup or their moisturizer. We want millions of customers to have access to our 'no-middlemen, no-ridiculous retailer markup' pricing," says Kilgore.