GlossGenius secures $28M in Series C Funding from L Catterton for its business-in-a-box platform serving SMBs in the beauty and wellness industry
New York, NY (PRWEB) July 27, 2023 -- GlossGenius, the business-in-a-box platform for small businesses in the beauty and wellness sector, today announced a $28M Series C funding. The equity round was led by the Growth Fund of L Catterton, a leading global consumer-focused investment firm, with participation from Bessemer Venture Partners and Imaginary Ventures. This is the second up-round for GlossGenius in the last 12 months, and brings the company’s total funding to approximately $70M to date.
GlossGenius helps tens of thousands of small business owners across the U.S. manage their operations, create a cohesive client experience and build successful businesses. With billions of dollars in annualized activity on the platform, GlossGenius saw its business grow by triple-digit percentages in the last year, underscoring its position as one of the fastest-growing companies in the industry.
“Large shifts in the beauty and wellness industry have provided a significant opportunity for vertical operating systems to create unprecedented value,” said Danielle Cohen-Shohet, CEO and Founder, GlossGenius. “We have been helping our business customers grow revenue by 25 - 100% and save hours of manual work every single day, driving financial success for local entrepreneurs. Our team’s demonstrated ability to consistently bring the best products to market with the most intuitive user experiences has enabled our customers to think bigger and run better businesses. This round will help us extend our leadership and continue to support these businesses.”
Small business owners use GlossGenius as their primary business infrastructure to manage end-to-end workflows across their back-office and front-office such as payments, booking, inventory, expenses, marketing and more. The additional funding will accelerate GlossGenius’ development of its platform, following its recent release of a myriad of consumer experience, payment and automation products.
“Given our deep expertise in beauty and our investments in disruptive software businesses across consumer verticals, we see a compelling opportunity to serve these businesses with better and more powerful tech,” said Ian Friedman, a Partner in L Catterton’s Growth Fund. “The overwhelming enthusiasm displayed by GlossGenius’ customers is a testament to the product’s excellence and the company’s position as the go-to platform in the industry. We are thrilled to leverage our expertise scaling consumer and technology businesses to support GlossGenius’ ambitious growth plans.”
The additional funding will fuel GlossGenius's continued innovation and enable the company to deliver even more advanced products and services to support entrepreneurial business owners in the beauty and wellness vertical.
GlossGenius has recently been recognized on the Forbes Fintech 50, Inc.’s Best Workplaces of 2023, and the SMBTech 50. This spring, Cohen-Shohet was also named a 2023 EY Entrepreneur of the Year.
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About GlossGenius
GlossGenius is the best appointment management and scheduling system for salons and spas. Our complete set of automated appointment scheduling, same business day payments, client management and built-in marketing solutions was designed to empower professionals to focus on being creators, not admins. For more information, visit https://glossgenius.com/ and follow the company on LinkedIn, Instagram, and Twitter.
About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.
Media Contacts
GlossGenius:
Six Eastern on behalf of GlossGenius
Sarah Dresdow
mailto:[email protected] [[email protected] __title__ null]
415.854.5794
L Catterton:
Julie Hamilton
Managing Director, Firm Communications
[email protected]
203.742.5185
Six Eastern on behalf of GlossGenius, GlossGenius, 1 4158545794, [email protected]
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