Purplle, the Goldman Sachs-backed online beauty and personal care platform has added another $7.9 million in funding to its recently from a Belgian private investment firm Verlinvest SA. Based on what the company’s regulatory filings show, this new funding will be a part of the company’s $30 million Series C.
Interestingly, there was no mention of Verlinvest at the time of Purplle’s Series C closure. Post this transaction, Verlinvest SA will hold around 8.20 percent stake in the company.
The company had previously said that the proceeds of Series C round will be used to augment its unique supply of brands and products on the platform through partnerships.
It also plans to enhance the company’s data stack through investments in women-focused digital content, curate highly personalized digital experiences for consumers powered by user personas and the company’s recommendation engine, and further build the company’s global supply chain.
Purplle started operations in 2012 and operates an online beauty and personal care e-commerce platform which provides personalized digital shopping experiences for consumers by creating detailed user personas.
Currently, the company offers a wide assortment of 47,500 SKUs across more than 1,000 third-party and self-owned brands. Over the past two years, Purplle claims that its net merchandise value has more than quadrupled. The company now claims to have 450+ employees and to be growing by more than 100 percent year-on-year.
