BEAUTY PIE raises $100M Series B to turn the high-markup beauty industry upside down

SEP 08, 2021

The round was co-led by Index Ventures and Insight Partners and joined by existing investors Balderton, General Catalyst and Latitude.

Founded in 2016 by serial entrepreneur and beauty-industry expert Marcia Kilgore, BEAUTY PIE gives customers access to world-class quality health and beauty products manufactured at the industry’s leading third-party labs (including products from exclusive suppliers in Switzerland, France, Germany, Japan, Italy, the UK, and the USA), at unbeatable direct-from-the-warehouse prices.

Balderton announced our first investment in BEAUTY PIE in 2020.

With the new round of funding, BEAUTY PIE plans to turn the high-markup beauty industry upside down, with more warehouses, pop-up shops and a new membership model (for devotees), dubbed BEAUTY PIE PLUS. BEAUTY PIE experienced exponential growth during the acceleration of D-to-C shopping during the COVID pandemic, doubling its number of members in fiscal year 2020.

We are about empowerment, self-worth, and encouraging customers to demand more out of life, even if that means starting with their makeup or their moisturizer. We want millions of customers to have access to our ‘no-middlemen, no-ridiculous retailer markup’ pricing.

Marcia Kilgore, founder of BEAUTY PIE

Marcia Kilgore, founder of BEAUTY PIE

Marcia is one of the world’s most exceptional founders, having repeatedly built industry-leading businesses. With Beauty Pie, she has created a unique way for customers to get access to the best quality products directly, cost-effectively, and transparently.

Suranga Chandratillake, Partner, Balderton

We were delighted to support the team through our early fund and are honoured to be continuing the journey with Marcia and the Beauty Pie team through our growth fund. Our growth fund was created to support Europe’s most exceptional companies as they scale into tech giants and we believe Beauty Pie will revolutionise the global beauty industry.

Suranga Chandratillake, Partner, Balderton

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