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How to Raise Venture Capital That Matters

Last July was officially the summer of Glossier. In the hot, sticky months of 2021, the global beauty phenomenon was sparkling off a $80 million Series E round that valued the company at $1.8 billion, a figure more characteristic of a Silicon Valley software startup than a buzzy cosmetic company.

But the landscape was changing. Since the onset of the COVID-19 pandemic, a new spate of fashion and beauty brands — Outdoor Voices, Vestiaire Collective and SKIMS among them — had announced deep venture capital investments to level up their businesses. Glossier, for one, was set to introduce a series of extravagant new brick-and-mortar experiences, angling to build brand awareness in markets from Seattle to London.