New York-based skincare startup Glowbar closes $10m growth capital

New York-based skincare startup Glowbar closes $10m growth capital

Published: 04-01-2023 15:31:00 | By: Pie Kamau | hits: 3178 | Tags:

Glowbar, the skincare brand whose custom 30-min, $65, clinical-grade facial has made it a breakout success in New York, announced it has received a $10 million growth investment led by Peterson Partners, a Salt Lake City-based firm whose investments have included Allbirds, solidcore, Bonobos, Rails Clothing, and Madison Reed

With this investment, Glowbar is expected to double its studio count by the end of 2023. In addition to growing their Tri-state area footprint, the company plans to open additional markets along the Eastern seaboard. The capital will also be used to expand headcount across the organization, including senior leadership, and to further invest in state-of-the-art training for Glowbar's 100+ licensed estheticians. 

CEO and Founder Rachel Liverman sees Glowbar's place within the vast beauty market as part of a holistic approach to wellness, with accessible and routine skincare playing a larger role, a term she has coined as "wellcare." The studio experience delivers the expertise and efficiency expected from health services, with the accessibility that fits into a modern lifestyle - a key differentiator in the growing category.

Rachel Liverman, CEO and Founder, Glowbar: "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."

This raise also comes on the heels of building out the company's Board of Advisors with some of the heaviest hitters in the beauty industry. Drybar co-founder Alli Webb and Bluemercury co-founder Marla Beck both signed on in key advisory roles for the company's next phase of growth.

Alli Webb, Co-founder, Drybar: "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 their 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."

Marla Beck, Co-founder, Bluemercury: "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."

Launched in 2019, Glowbar reinvented the studio experience by delivering custom, clinical-grade facials in just 30 minutes. Using a proprietary system, licensed estheticians design and deliver effective treatment plans tailored to customer needs and goals. Services include Dermaplaning, Chemical peels, Extractions, LED, Microcurrent, or High Frequency. Monthly memberships are $55 – which include one treatment per month and 10% off retail products – with single visits also available for $65.  

Brett Stohlton, Partner, Peterson Partners: "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."

www.glowbar.com