Beauty startup Birchbox lands $60M in funding
Birchbox plans to use the funds to gain ground in the beauty industry and expand the reach of its sample-filled boxes.
Birchbox, the e-commerce company that sends out boxes of beauty and lifestyle samples for a $10 monthly subscription, has raised some serious cash.
The New York-based startup on Monday announced that it closed $60 million in a Series B round of funding led by Viking Global Investors and boosted by First Round Capital, Accel Partners, and others. Birchbox plans to use the funds to invest in current strategic plans, as well as expand its reach.
Birchbox offers both men and women a subscription-based service that ships a wide range of beauty and fashion product samples to their doors each month. The company also has an online store where customers can buy full-sized versions of the products they like.
"With Birchbox, we are growing the existing beauty market by inspiring new customers to shop," said Katia Beauchamp, co-founder and co-CEO of Birchbox, in a statement. "We've learned where to invest for a leading industry position, and this raise will allow us to further grow our footprint and position in the beauty industry."
Birchbox, which launched in 2010, has grown rapidly since its launch. The company said it currently has over 800,000 monthly subscribers and 800 brand partners. Its e-commerce shop has 6,500 products.
CNET has contacted Birchbox for additional comment on the funding. We will update this story when we have more information.