Madison Reed raises $33M to expand store footprint

After hiring a new chief financial officer in March, hair color brand Madison Reed announced it has raised $33 million in new financing, according to a company press release. The money will go towards growing the company’s “successful omnichannel business.”

The funding was led by Sandbridge Capital and included participation by Marcy Venture Partners, which was co-founded by music artist Jay-Z.

Madison Reed plans to have 80 Hair Color Bar locations opened by the end of the year, hire 850 new colorists with full-time benefits and invest in innovative products to expand its portfolio.

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