Memebox raises $60m in Series C extension round

Beauty firm Memebox has raised $60m in a Series C extension round.

This latest round was led by investment firms Goodwater Capital, Altos Ventures, Cowboy Ventures, Mousse Partners, Formation Group, Funders Club, Pear Ventures, Cota Capital, and Janet Gurwitch.

Founded in 2012, Memebox has raised a total amount of $160m. The current funding is expected to enable the firm to continue investing in boosting its mobile shopping experience, developing a database of beauty ingredients and products, and building efficient global operations.

Memebox's chief executive officer Hyungseok Dino Ha said: "Memebox has been focused on bringing innovative, high-quality and approachable beauty to consumers worldwide.

"We've been focused on growing our operations in Asia, particularly in China, but with this funding we plan to streamline our global operations at our company headquarters in San Francisco."

With focus on beauty innovation, experience, and discovery, the firm includes brands such as Bonvivant, Nooni, I'M Meme and Pony Effect. It focuses on developing these brands based on data collected from customers.

The firm also operates a content-driven mobile shopping experience, which represents more than 88% of its global online transactions.

Recently, the firm opened its first holiday pop-up shop in San Francisco and its Bonvivant line of sheet masks are now available in-store and online.