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Expansion into bridal, branded products are part of future plans.
October 9, 2015
By: Christine Esposito
Editor-in-Chief
Mobile beauty services company Glamsquad has announced that New Enterprise Associates (NEA) has led a $15 million Series B financing round, with participation from existing investors SoftBank Capital, Lerer Hippeau Ventures, Montage Ventures and AOL's BBG Ventures. Glamsquad, which launched in January 2014, brings independent beauty professionals directly to clients' homes, offices, hotels and other locations. It currently operates in the New York, Los Angeles and Miami markets. Glamsquad intends to use the proceeds to accelerate its growth nationwide, expand its engineering and marketing capabilities and explore preliminary development of new products and services. Areas of focus will include bridal services as well as Glamsquad-branded products and e-commerce capabilities, the company said. “This financing is the result of continued, record-setting growth,” said Alexandra Wilkis Wilson, co-founder and CEO of Glamsquad. “Each week, we hit new appointment count and revenue records. We have quintupled our run-rate revenue from just one year ago and are looking ahead to expansion in Washington, D.C., Dallas, Chicago and many more cities.” In total, Glamsquad has raised $24 million to date. As part of this Series B round, Dayna Grayson, a general partner of NEA, has joined the Glamsquad board.
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