THE WHAT Oddity-owned Il Makiage has announced the closing of a US$130 million private round, that values the company at US$1.5 billion.
THE DETAILS Led by Thomas Tull, Franklin Templeton, Fidelity Management & Research Company LLC and First Light Capital Group, the round also had participation from additional growth equity investors.
The first brand of consumer tech company Oddity, Il Makiage has surpassed US$260 million in revenue in 2021.
THE WHY Oddity is looking to innovate the beauty and wellness industries through technology.
Discussing the investment, Oran Holtzman, co-founder and CEO of Oddity, said, “Our existing technology and roadmap are unlocking immense growth opportunities in the beauty and wellness industries and enabled us to drive a rare combination of scale, growth and profitability.
“We’re honored to partner with an amazing set of growth equity investors that share our view on the industry’s future and will support our efforts to become the digital beauty and wellness house of the future by continuing to disrupt additional sub-categories.”