Term Sheet — Tuesday, March 194

There's a new unicorn on the block. Glossier, the direct-to-consumer beauty brand, raised $100 million in Series D funding at a $1.2 billion valuation. Sequoia Capital led the round, and was joined by a star-studded list of investors including Tiger Global Management, Spark Capital, Forerunner Ventures, Thrive Capital, IVP, and Index Ventures.

The company also announced that it hired Vanessa Wittman as its chief financial officer. Wittman has previously served as a CFO of Oath, Dropbox, and Motorola Mobility. At Fortune's Most Powerful Women Next Gen Summit in 2018, Glossier founder and CEO Emily Weiss revealed that the company had surpassed $100 million in revenue by selling products such as facial cleansers, makeup, and fragrances. In addition to Glossier's permanent retail stores in New York City and Los Angeles, the company plans to open five temporary locations in cities across the U.S. later this year.

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