Friday Fundings: Glossier, Clearco, DealShare
Direct-to-Consumer Beauty Brand Raises $80 Million
Glossier, a direct-to-consumer beauty company, raised $80 million in venture funding. The Series E round was led by Lone Pine Capital, and included participation from existing investors Forerunner Ventures, Index Ventures, and Sequoia Capital, among others.
The beauty brand has grown over the years and now has more than 5 million customers located around the world. Glossier closed all its retail stores in the early days of the pandemic but is now reopening many of them. In June the company announced it was opening three stores in Seattle, Los Angeles, and London, with plans to add more stores, including one New York in 2022. The funding will be used to continue to scale Glossier’s online and offline sales initiatives.
Funding Startup Raises $215 Million
Clearco, a fintech company which provides funding to ecommerce startups, raised $215 million in venture funding from a Series C extension. The lending platform is open to ecommerce, mobile app, and software companies which have $10,000 or more in monthly sales.
Companies can borrow up to $10 million from Clearco and pay it off with a percentage of their revenue. Clearco plans to use the proceeds from the funding round to expand into Asia and Europe. It also plans to grow its relationships with banks and other funders around the world.
Indian Social Commerce Startup Raises $144 Million
DealShare, an India social commerce platform, raised $144 million in venture funding. The Series D round, which values DealShare at $455 million, was led by Tiger Global and included participation by WestBridge Capital, Alpha Wave Incubation, and Z3Partners. The startup has raised a total of $183 million since launching in 2018.
DealShare got its start selling products directly to consumers on Facebook’s (FB) WhatsApp platform. It targets consumers outside India’s cities and towns, selling them a curated list of items. Funding from the round will be used to expand the company’s operations, enhance its technology, and hire more employees. DealShare is also eyeing acquisitions of startups in the social and gamification markets.
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