Andreessen Horowitz attracted to Julep Beauty Series B


beauty-cosmetic-lipstickVenture capital firm Andreessen Horowitz has led a $10.3m financing round for US beauty brand Julep Beauty.

Maveron, the venture firm founded by Howard Schultz and Dan Levitan, re-upped its investment in the company as part of the Series B round.

Other existing investors include Lady Gaga’s manager Troy Carter, Western Technology Investments and Version One Ventures.

The company was founded by former Starbucks executive Jane Park and has gained a reputation for speed, bringing more products to market in the past 18 months than any other beauty company.

Park has used e-commerce, big data and social media to accelerate growth of the brand, saying, “We don’t have to spend millions of dollars launching a new product – our social media girlfriends are highly engaged consumers who help us get the word out.”

Maveron board member Jason Stoffer said, “As direct TV proved to be a launching pad for enduring beauty brands decades ago, we believe new social media channels will be the catalyst for launching the next great multi-channel beauty companies.

“Julep is a pioneer in using Facebook, Pinterest and the social web to deeply engage its community of beauty lovers around color and fashion forward beauty products.”

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