Madison Reed raises $16.1 million in Series C funding
Madison Reed, the at-home hair coloring and hair care experience for customers, announced Monday a $16.1 million Series C round of funding, which includes existing investors, Norwest Venture Partners and True Ventures, and new investors Comcast Ventures and Shea Ventures.
“The team took notice of Madison Reed because it’s a company changing the game in an industry that is still short on innovation,” said Sam Landman, Managing Director at Comcast Ventures. “I saw how exceptionally ambitious the company is, and I’m looking forward to continuing the relationship to innovate their product and the way they connect with their audience through TV and our media channels.”
San Francisco-based beauty company, Madison Reed, was launched in 2013 and has since begun disrupting the $50 billion hair care industry. The company offers salon quality hair products free of harsh chemicals and delivers them directly to consumers. Madison Reed offers products to maintain color treated hair like its Root Touch Up, Semi-Permanent Gloss, and a recently launched Root Touch Up powder that is available in Sephora stores nationwide.
The Series C funding will allow Madison Reed to continue to offer personalized service for its customers. The company also plans to expand its television advertising and marketing worldwide through Comcast/NBC Universal.
“Globally, hair care products are the largest portion of the beauty industry. We have a huge opportunity to completely reinvent the way women are coloring and caring for their hair by using technology, real-time access to licensed colorists, and better-for-you ingredients to deliver a superior result directly to consumers,” said Amy Errett, CEO and Co-Founder, Madison Reed. “With ongoing support from Comcast Ventures, Shea and our current team of investors, we can continue transforming the industry and delighting our customers to make them feel beautiful every day, inside and out.”
Madison Reed previously raised $15.9 million from True Ventures, where Errett is a Special Advisor, and Norwest Venture.
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