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Michelle Phan's Makeup Subscription Service Raises $100 Million

Ipsy had raised less than $3 million before this round.

Katie Falkenberg / Getty Images

Ipsy isn’t the only beauty box subscription service out there offering monthly goodies for $10 a box, but now, it may be the richest.

According to TechCrunch, the brand just raised a $100 million round of funding from TPG Growth (an Uber investor) and Sherpa Capital, after previously raising less than $3 million up to this point. Ipsy was founded by Michelle Phan, YouTube beauty vlogger extraordinaire, and counts a user base of 1.5 million active subscribers.

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