THE WHAT? Beauty Pie has completed a Series B funding round of US$100 million, bringing the company’s total funding to date to approximately US$170 million.
THE DETAILS The round was led by Index Ventures alongside US-based global private equity and venture capital firm Insight Partners, existing investors Balderton Capital and General Catalyst and Latitude VC, sister fund to London-based seed investor LocalGlobe.
THE WHY? Beauty Pie aims to use the finance raised to open more warehouses, pop-up shops and a new membership model, named Beauty Pie Plus.
Danny Rimer, Partner at Index Ventures, said, “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.”