Beauty and Content Powerhouse The Good Glamm Group Eyes IPO, Finalizes $70 Million Funding

The Good Glamm Group
Preeti Bali / 10:18 am / April 23, 2024

The Good Glamm Group, a content-to-commerce platform encompassing beauty brands and digital media, is nearing the close of a $70 million Series E funding round. This move comes as they prepare for a potential initial public offering (IPO) next year, according to industry sources familiar with the discussions.

The funding round will include participation from both existing and new investors. Notably, the company is expected to maintain its $1.2 billion valuation, consistent with their previous funding round.

“This round is unlikely to involve any investor exits,” revealed a source, indicating that current stakeholders plan to hold their positions until the IPO. The fresh capital is expected to fuel preparations for the public listing, potentially targeted for Diwali next year.

Prosus Ventures, Bessemer Partners, Accel, and Warburg Pincus are among the confirmed participants in The Good Glamm Group’s financing.

Existing investors including Prosus Ventures, Bessemer Partners, Accel, and Warburg Pincus are confirmed participants in the fundraise, based on information obtained by Inc42 and further corroborated by The Good Glamm Group’s filings with the Ministry of Corporate Affairs.

While existing investors are likely to participate through a rights issue, discussions are ongoing to finalize terms for the new investors. Sources suggest that existing investors will collectively contribute around $35 million, with the remaining $35 million coming from new participants.

The Good Glamm Group representatives declined to comment on inquiries regarding the funding and IPO plans.

The company’s origins trace back to 2017 with the founding of D2C (direct-to-consumer) brand MyGlamm by Darpan Sanghvi. Merging with digital media platform POPxo (founded by Priyanka Gill in 2013) and online parenting startup BabyChakra (founded by Naiyya Saggi in 2015), The Good Glamm Group was formed in September 2021. Since then, they have acquired a significant portfolio of brands, including ScoopWhoop, Organic Harvest, and Sirona. It’s worth noting that Priyanka Gill transitioned this year to a venture partner role at early-stage venture capital firm Kalaari Capital.

The Good Glamm Group: An Integrated Strategy for Influencer Marketing, Media, Beauty, and Community Development

Currently, The Good Glamm Group operates within four key verticals: The Good Brands Co. (housing their D2C beauty and personal care brands), The Good Media Co. (managing their digital content platform), The Good Creator Co. (focusing on influencer marketing with a technological edge), and Good Community (an omnichannel network connecting consumers and experts around beauty, parenting, and sexual wellness topics).

The company achieved unicorn status (a valuation exceeding $1 billion) after securing $150 million in their Series D round co-led by Prosus Ventures and Warburg Pincus in November 2021. Amazon, Bessemer Ventures, L’Occitane, and Alteria Capital were among the previous investors who took part in the round.

With this latest funding round, The Good Glamm Group’s total capital raised to date reaches approximately $270 million.

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