I was very excited to see the news today about Birchbox raising a $10.5M Series A round of funding! The funding was led by Accel Partners with First Round Capital, Harrison Metal, Forerunner Ventures, Lerer Ventures, Sam Lessin, Consigliere, Gary Vaynerchuck, Dave Morin, Stanford University Endowment and Andy Dunn participating in the round.
Birchbox is a disruptive subscription and eCommerce business, where subscribers receive 4 – 5 curated samples of beauty products each month that are delivered to their home. A subscription costs $10 a month or you can purchase a yearly subscription at $110. Members can also purchase the full size products from their eCommerce store.
We were honored to be introduced to Hayley Barna & Katia Beauchamp (co-founders) at Birchbox by one of their investors at First Round Capital back in February. I was familiar with their business after giving my wife a subscription to Birchbox for Christmas (trust me… if you are looking for a gift, this one is a no-brainer).
For two months, I spent quite a bit of time with Hayley, Katia and the Birchbox team. Hayley & Katia met each other at Harvard Business School and started the business as they were wrapping up their studies. They are the perfect co-founder team, as they compliment each other exceptionally well. They are brilliant, driven, innovative,… yet smart to know “what they don’t know” and empower a team around them to help build a very successful business.
Congrats! I’m looking forward to seeing what the future holds for them… which no doubt, will be very, very bright!
Here’s a great video that was published last April by The Daily: