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4 Jan

Fast-facial spot Glowbar Closes $10 Million Series A –

Facial bars seem like ripe for investment.

Not long after Heyday announced its Series B extension, Glowbar, known for its 30-minute, $65 facial, has received a $10 million Series A funding.

The round was led by Peterson Partners, a Salt Lake City-based firm whose investments have included Allbirds, Solidcore, Bonobos, Rails Clothing and Madison Reed. 

Glowbar was founded in 2019 by Rachel Liverman, a third-generation aesthetician, with services including dermaplaning, chemical peels, extractions and LED.

The corporate began with a TriBeCa studio, but now has expanded its Latest York City footprint to the Upper East Side, Union Square and Williamsburg. It also added locations in Roslyn, Latest York, and Westport, Connecticut.

With the investment, Glowbar is anticipated to double its studio count by the top of 2023. Along with growing its tri-state area footprint, the corporate plans to open additional markets along the Eastern seaboard, equivalent to Boston.

The capital may even be used to expand headcount across the organization, including senior leadership, and to further put money into training for Glowbar’s aestheticians. 

Liverman said: “We now have built a powerful foundation and need to proceed to supply the most effective facials on the market. A lot of this raise is timed to prioritizing our endlessly first client — our team — and with latest markets on the horizon, it felt just like the natural moment to scale and further our mission to deliver digestible, results-driven skincare to the masses.”

Brett Stohlton, partner at Peterson Partners, added: “Consumers are increasingly prioritizing beauty and skincare and so they love the Glowbar experience. We see a giant opportunity to construct on our Latest York success in other markets across the country.”

The raise also comes on the heels of constructing out the corporate’s board of advisers with the appointments of Drybar cofounder Alli Webb and Bluemercury cofounder Marla Beck, each signed on in key advisory roles for the corporate’s next phase of growth.

“Glowbar has found a white space within the very saturated beauty world meeting an unfulfilled need for a fast, but extremely effective facial,” said Webb. “With Rachel’s long history and love of skincare coupled with Glowbar’s results-driven approach, this brand is ripe for enormous expansion and growth.”

Investor interest has been heating up in the wonder services sector. Last 12 months Millennial med spa Ever/Body, which offers laser facials, Botox, HydraFacial, fillers and laser hair removal, raised a $38 million Series B from a combination of investors including Tiger Global Management, Addition and Fifth Wall and later a $55.5 million Series C funding.

This 12 months, Upkeep, an app that permits users to search out, book and pay for med spa treatments, secured $2 million in seed funding and most recently, private equity firm KKR took a “notable” minority stake in SkinSpirit, the biggest provider of Botox and filler within the country.

As well as, Heyday has raised a $12 million Series B extension. The raise was led by existing investor Level 5 Capital Partners (L5) nearly two years after Heyday’s initial $20 million Series B.

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