Beauty Pie Lands US$100M to Expand Skincare Market Reach

The company’s success can be attributed to its innovative approach to sourcing and selling high-quality products from various producers under its own brand. This allows Beauty Pie to compete with top brands while offering lower prices to its members.

The company claims that traditional brands typically mark up their products by 10 times the cost of production. In September 2021, Beauty Pie raised $100 million in a Series B funding round co-led by Index Ventures and Insight Partners.

Previous investors, including Balderton Capital, General Catalyst, and Latitude VC, also participated in the round. To date, Beauty Pie has raised a total of $170 million. Although the company’s valuation remains undisclosed, it is estimated to be less than $1 billion.

Beauty Pie’s impressive growth is evident in its annual and monthly subscriber figures. According to Danny Rimer, a partner at Index Ventures, the company’s customer retention rates are higher than those of Spotify and Netflix, and 20 times higher than other direct-to-consumer beauty companies…