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  • 08.02.16

Birchbox gets long-awaited funding

It’s no secret that Birchbox has been trying, unsuccessfully, to score investment for months. The company had to lay off 30 staff last month, the second round of firings for the company, after it retrenched 50 in January. And it also had to halt it’s growth plans to build more brick and mortar stores. 

Today, it managed to raise $15 million from its current investors including First Round Capital, Accel Partners, and Viking Global Investors. CEO Katia Beauchamp told Recode she hopes to make Birchbox profitable soon, possibly by the end of this year. 

However, given the company’s image problem–both with consumers and within the company (it currently has a dismal Glassdoor ratings)–it’s unclear whether Beauchamp will be able to achieve this goal. ES