09.29.15
Madison Reed, the direct-to-consumer hair color firm, has announced a $16.1 million Series C round of funding. Comcast Ventures and Shea Ventures join existing investors Norwest Venture Partners and True Ventures in the round.
The additional funding will help Madison Reed build upon its current product and accelerate marketing and technology innovation. The funding will also enable the company to continue to offer personalized service and set a higher standard for the integrity, design and delivery of hair color and care products.
The San Francisco-based company previously raised $15.9 million from True Ventures and Norwest Venture Partners.
Leveraging Comcast Ventures’ strong media relationships with Comcast/NBCUniversal, the investment will further support Madison Reed’s plans to expand its television advertising and marketing efforts nationwide, according to the company.
“The team took notice of Madison Reed because it’s a company changing the game in an industry that is still short on innovation,” said Sam Landman, managing director at Comcast Ventures. “I saw how exceptionally ambitious the company is, and I’m looking forward to continuing the relationship to innovate their product and the way they connect with their audience through TV and our media channels.”
“Globally, hair care products are the largest portion of the beauty industry. We have a huge opportunity to completely reinvent the way women are coloring and caring for their hair by using technology, real-time access to licensed colorists, and better-for-you ingredients to deliver a superior result directly to consumers,” said Amy Errett, CEO and co-founder, Madison Reed. “With ongoing support from Comcast Ventures, Shea and our current team of investors, we can continue transforming the industry and delighting our customers to make them feel beautiful every day, inside and out.”
Over the past year, Madison Reed has also expanded beyond just permanent hair color to offer a full range of hair care products, such as Root Touch Up, Semi-Permanent Gloss and styling products.
The additional funding will help Madison Reed build upon its current product and accelerate marketing and technology innovation. The funding will also enable the company to continue to offer personalized service and set a higher standard for the integrity, design and delivery of hair color and care products.
The San Francisco-based company previously raised $15.9 million from True Ventures and Norwest Venture Partners.
Leveraging Comcast Ventures’ strong media relationships with Comcast/NBCUniversal, the investment will further support Madison Reed’s plans to expand its television advertising and marketing efforts nationwide, according to the company.
“The team took notice of Madison Reed because it’s a company changing the game in an industry that is still short on innovation,” said Sam Landman, managing director at Comcast Ventures. “I saw how exceptionally ambitious the company is, and I’m looking forward to continuing the relationship to innovate their product and the way they connect with their audience through TV and our media channels.”
“Globally, hair care products are the largest portion of the beauty industry. We have a huge opportunity to completely reinvent the way women are coloring and caring for their hair by using technology, real-time access to licensed colorists, and better-for-you ingredients to deliver a superior result directly to consumers,” said Amy Errett, CEO and co-founder, Madison Reed. “With ongoing support from Comcast Ventures, Shea and our current team of investors, we can continue transforming the industry and delighting our customers to make them feel beautiful every day, inside and out.”
Over the past year, Madison Reed has also expanded beyond just permanent hair color to offer a full range of hair care products, such as Root Touch Up, Semi-Permanent Gloss and styling products.
