GLAMSQUAD SECURES $7M SERIES A: On-demand beauty services firm Glamsquad has secured $7 million in Series A funding, led by SoftBank Capital, the venture arm of SoftBank Corp. Other participants in the funding round include Lerer Ventures, AOL’s BBG Fund and Montage Ventures.
Glamsquad was launched in January, and the latest round raised is on top the the $2 million in seed capital raised previously. The model is focused on users downloading the beauty app in order to set up appointments for makeup or hair styling, whether at clients’ home, office or other location.
Alexandra Wilkis Wilson, cofounder and strategic advisor of Gilt Groupe, is president and chief executive officer of Glamsquad. Her role is to lead the expansion into new service lines, geographies and revenue streams.”
Since the launch in New York City, the company now offers its services to users in Los Angeles. The Series A round will enable it to accelerate growth into more cities, including Miami during Art Basel in December.
Jason Perri, Glamsquad’s chairman, said the company aims to leverage SoftBank Capital’s expertise in scaling consumer businesses, as well as SoftBank Corp.’s global presence in mobile and e-commerce to build a disruptive beauty business with a technology focus.