Fort Worth-based TPG and SherpaCapital have helped San Mateo, Calif.-based Ipsy, an operator of a popular cosmetics-subscription service, raise $100 million in Series B funding.
Ipsy, which boasts having 1.5 million subscribers in North America who monthly receives its Glam Bag shipment, was founded four years ago by YouTube star Michelle Phan. According to a report by Bloomberg, Ipsy had $150 million in annual sales.
Ipsy will use the funding to expand abroad and increase its marketing efforts. Earlier, the company raised a little more than $3 million in funding from 500 Startups and Crosscut Ventures.
Ipsy was co-founded by Phan and Marcelo Camberos, CEO, who was previously at Funny-or-Die, a humor website.