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Dive Brief: After opening 16 Color Bars in 2020, DTC hair color brand Madison Reed on Wednesday announced a $52 million funding round led by True Ventures. The money will go toward fueling its "omnichannel expansion," according to a company press release. Other investors included Norwest Venture Partners, Comcast Ventures, Shea Ventures, Goldman Sachs, Motley Fool Ventures, Portfolia Rising America Fund and Portfolia FirstStep Fund. Madison Reed saw 130% growth in 2020, according to the company, and nearly doubled its customer base. The brand announced in 2019 that it planned to open 600 of i...

Hair Color Innovator Madison Reed Raises Over $50 Million to Continue Omnichannel Expansion Brand prepares to seize here-to-stay post-pandemic consumer behavior shifts News provided by Share this article Share this article SAN FRANCISCO, Feb. 24, 2021 /PRNewswire/ -- Madison Reed announced a $52 million financing round to continue to fuel its omnichannel expansion and build upon the 130 percent growth it saw during 2020. The round was led by True Ventures, an investor in Peloton, Ring and Blue Bottle Coffee. The round includes participation from Norwest Venture Partners, Comcast Ventures and...