01.14.22
Il Makiage has announced the closing of a $130 million private round that values the company at $1.5 billion.
The investment was led by Thomas Tull, Franklin Templeton, Fidelity Management & Research Company LLC and First Light Capital Group with participation from additional growth equity investors.
Oddity, the consumer-tech company which owns Il Makiage, says it is committed to innovating and revolutionizing the beauty and wellness industries through technology. Il Makiage, continues to experience industry-leading growth and has surpassed $260 million in revenue for 2021.
“Our existing technology and roadmap are unlocking immense growth opportunities in the beauty and wellness industries and enabled us to drive a rare combination of scale, growth and profitability,” said Oran Holtzman, co-founder and CEO of Oddity. “We’re honored to partner with an amazing set of growth equity investors that share our view on the industry's future and will support our efforts to become the digital beauty and wellness house of the future by continuing to disrupt additional sub-categories.”
“Oddity has built a proven tech-driven platform which puts the customer at the center and provides superior online experiences,” said Matt Quinlan, portfolio manager at Franklin Templeton's Franklin Equity Group. “They are a clear leader with a relentless mission to build the future of beauty and wellness. We think this is a very exciting time to invest in the company as the beauty and wellness industries undergo significant changes and continue to shift online. Oddity’s business and pace of product and tech innovation are accelerating, with a substantial opportunity still ahead that is expected to produce long term value creation.”
Oddity and its brands employ over 200 team members, with headquarters in New York City, United States and an R&D center in Tel Aviv, Israel. Over 40% of the company’s employees are part of its technology team as the company seeks to blend the best of technology and desirable and efficacious products.
The investment was led by Thomas Tull, Franklin Templeton, Fidelity Management & Research Company LLC and First Light Capital Group with participation from additional growth equity investors.
Oddity, the consumer-tech company which owns Il Makiage, says it is committed to innovating and revolutionizing the beauty and wellness industries through technology. Il Makiage, continues to experience industry-leading growth and has surpassed $260 million in revenue for 2021.
“Our existing technology and roadmap are unlocking immense growth opportunities in the beauty and wellness industries and enabled us to drive a rare combination of scale, growth and profitability,” said Oran Holtzman, co-founder and CEO of Oddity. “We’re honored to partner with an amazing set of growth equity investors that share our view on the industry's future and will support our efforts to become the digital beauty and wellness house of the future by continuing to disrupt additional sub-categories.”
“Oddity has built a proven tech-driven platform which puts the customer at the center and provides superior online experiences,” said Matt Quinlan, portfolio manager at Franklin Templeton's Franklin Equity Group. “They are a clear leader with a relentless mission to build the future of beauty and wellness. We think this is a very exciting time to invest in the company as the beauty and wellness industries undergo significant changes and continue to shift online. Oddity’s business and pace of product and tech innovation are accelerating, with a substantial opportunity still ahead that is expected to produce long term value creation.”
Oddity and its brands employ over 200 team members, with headquarters in New York City, United States and an R&D center in Tel Aviv, Israel. Over 40% of the company’s employees are part of its technology team as the company seeks to blend the best of technology and desirable and efficacious products.