Consumer startup Madison Reed announced the close of $25 million in Series D financing led by Comcast Ventures, with participation from Norwest Venture Partners, True Ventures, and Calibrate Ventures.
Madison Reed seeks to disrupt the $50 billion hair care industry by using technology to make the at-home hair color experience a “more luxurious, fearless, happy process.” The direct-to-consumer line’s nutrient-rich hair color formula is crafted without ammonia, parabens, resorcinol, PPD, phthalates, and gluten – the irritating chemicals typically found in hair color. The entire line of color products is enriched with argan oil, keratin, and ginseng root.
In addition to salon-quality hair color, delivered on a flexible schedule, the company offers additional products to perfect, protect, and prolong hair color as well as support from expert colorists and 24/7 color recommendations.
This round of capital will be used to rapidly expand the digital company’s current business, and to expand its physical footprint. Madison Reed Color Bars will open in 25 locations in New York City and San Francisco by the end of 2019.