Madison Reed has announced a new financing led by Sandbridge Capital LLC to fuel its omnichannel expansion.
 
Sandbridge Capital is an authority in the retail and beauty space through its investments in the likes of Bonobos, Youth To The People, and The RealReal. Madison Reed’s alignment with Sandbridge Capital is the latest in a string of strategic moves by the company to bolster its retail expertise.
 
Last month, Madison Reed hired Dollar Shave Club’s Chief Financial Officer, Jose Zuniga, to drive the company’s Hair Color Bar business and omnichannel expansion.
 
Since launching in 2013, Madison Reed has raised nearly $250 million in funding as it strives to redefine the way women color their hair through its Hair Color Bar business, direct-to-consumer offering, and growing retail footprint. The digitally native hair color company now operates more than 65 Hair Color Bars nationwide, alongside an established wholesale business in retailers including Ulta and Target, and a strong recurring customer base online.

Madison Reed plans to operate 80 locations by the end of the year. The company also plans to hire 850 new colorists in 2022, who will earn 3x more than in a traditional salon, while receiving full-time benefits. The key regions Madison Reed is targeting further expansion in includes major hubs such as New York City, South Florida, California, Chicago, Washington D.C. and Texas.

“Madison Reed was built on the belief that salon-gorgeous hair color should be convenient, affordable and made with ingredients women can feel good about. We have achieved this by showing women that Madison Reed products and services give them agency and autonomy when it comes to coloring their hair, with high-quality results through our at-home products or in our 60+ nationwide Hair Color Bar locations,”  said Amy Errett, CEO and Founder of Madison Reed. “As we continue to grow our geographic and retail footprint, we couldn’t be more excited to partner closely with Sandbridge Capital and Marcy Venture Partners in this chapter of expansion. Their deep retail and beauty experience will be critical as we enter our next stage of growth.”