Cult beauty brand Glossier has been valued at over $1 billion in its latest Series D funding round, according to a report by Reuters.
The round was led by Sequoia Capital and included Tiger Global Management, Spark Capital, and existing investors Forerunner Ventures, Thrive Capital, IVP, and Index Ventures.
Emily Weiss, Founder and CEO of Glossier, said, “We are building an entirely new kind of beauty company: one that owns the distribution channel and makes customers our stakeholders.
“Thanks to this direct relationship with our customers, we have access to endless inspiration for new products, experiences, and ways of building an enduring business—all while staying true to our core belief that beauty should be a celebration of individuality and personal choice.”
The valuation places Glossier as one of a few billion-dollar companies founded by a woman, with its popularity said to be attributed in part to its savvy social media presence, boasting nearly two million followers on Instagram.
In other Glossier news the company has announced Vanessa Wittman as its Chief Financial Officer, with Edith Chen and Nick DeAngelo having also recently joined Glossier as Vice President of Supply Chain Operations and Vice President of Operations, respectively.