Goop has big plans.
The lifestyle media company recently landed a Series B funding round of more than $10 million, led by NEA, 14W Venture Partners, and Felix Capital. Last year, the company received a Series A round of $10 million led by Tony Florence at New Enterprise Associates.
Goop says it will use the new cash infusion to expand its direct-to-consumer business, including a new clothing line. Earlier this year, it launched the skincare line goop by Juice Beauty. It also plans to invest in technology, since customers are increasingly purchasing products through the mobile site.
Contrary to rumors, Gwyneth Paltrow will stay actively involved in the growth of the company as its founder and chief creative officer.
To learn more about how Paltrow launched Goop, read Anjali Mullany’s cover story from last year. You might also be interested in how Paltrow consciously trolls us with her ridiculous gift guides, as she discussed at Fast Company’s Innovation Festival last year.