New York, USA-based skincare brand Glowbar announced the closure of its growth funding at USD 10 million. The company announced the closure on January 4, 2022. Salt Lake City-based firm Peterson Parkers led the investment for the company.
Purpose of financing for Glowbar
With the latest investment, Glowbar seeks to double its studio count by the end of 2023. In addition to growing its Tri-state area footprint, the company aims to launch additional markets along the Eastern seaboard.
Meanwhile, Glowbar has plans to expand headcount across the organization, including senior leadership. Besides, it seeks to further invest in state-of-the-art training for Glowbar’s 100+ licensed estheticians.
What the founder has to say
CEO and Founder Rachel Liverman said, “Glowbar is changing the way people take care of their skin, and we’ve spent the past few years perfecting our studios’ operations while honing in on exactly what our clients are looking for, all of which have given us a real runway for growth in the WellCare category. We have built a strong foundation and want to continue to offer the best facials out there. So much of this raise is timed to prioritizing our forever first client – our team – and with new markets on the horizon, it felt like the natural moment to scale and further our mission to deliver digestible, results-driven skincare to the masses.”
What the Glowbar’s officials have to say
Alli Webb, the co-founder of Drybar and Marla Beck, co-founder of Burberry, are to take part in the key advisory roles for Glowbar’s next phase of growth.
Alli Webb said, “Glowbar has found a white space in the very saturated beauty world, meeting an unfulfilled need for a quick but extremely effective facial. With Rachel’s long history and love of skincare coupled with Glowbar’s results-driven approach, this brand is ripe for massive expansion and growth. Glowbar is a game changer and is already seeing tremendous demand for its refreshingly simple and affordable concept. It reminds me of the early days of Drybar, and I couldn’t be more excited and humbled to be an advisor and contributor to this one-of-kind business.”
In addition, Marla Beck said, “Seeing Rachel’s deep history and knowledge of the skincare industry, coupled with her thoughtful approach to taking the facial out of the dermatologist’s office, made it a natural fit for me to sign on as an advisor. Her vision for this brand is remarkable, the studio model is poised to scale, and the service model is outstanding. It’s a win on all fronts.”
What the investor has to say
Brett Stohlton, the partner at Peterson Partners, further added, “We are thrilled to partner with Rachel and her team. Consumers are increasingly prioritizing beauty and skincare, and they love the Glowbar experience. We see a big opportunity to build on our New York success in other markets across the country.”
About the company
In 2019, Founders Neha Govindraj and Rachel Liverman launched Glowbar. The company’s 30-minute, $65, clinical-grade approach lives at the intersection of a dermatologist and a spa to help consumers reach their skincare goals without the pain points of time, expense, and lack of confidence.
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