Hair care brand Madison Reed (San Francisco) has secured a $33 million cash infusion to open more physical salons and expand its omnichannel offerings.
The new financing was led by Sandbridge Capital with participation from Marcy Venture Partners, the firm co-founded by hip-hop star and entrepreneur Jay-Z.
Madison Reed says it plans to operate 80 Hair Color Bars by the end of the year. The brand is targeting expansion in New York City, South Florida, California, Chicago, Washington, D.C. and Texas.
The company will also use the new funding to expand its portfolio and omnichannel availability of color, care and maintenance products. Beyond its own website, Madison Reed is available at Ulta, Ulta Beauty at Target and Amazon.