Memebox has announced that it has closed $65.95 million in Series C funding led by new global investor Formation Group, and previous investors Goodwater Capital and Pejman Mar Ventures.

The latest round brings the company’s total funding to nearly $100 million — among the highest of any beauty startup.

Memebox will use the cash to continue its expansion into new markets, fuel innovative product development, and link its digital platform to additional offline retail experiences.

A few highlights that show the company’s success include:

• Memebox’s direct-to-consumer beauty platform has reached 3.3M+ users


• The company has hit a yearly run rate of $150M with 280% year-over-year growth


• Memebox has 70M+ Facebook video views since January, earning strong brand loyalty through digital content


• Unique data analysis and notable partnerships drove 670% YoY growth for its brand business and the launch of four new brands in 12 months, with two more to come by year-end

Brian Koo, founder and CEO of Formation Group said, “Memebox has redefined how beauty companies operate in order to respond to the needs of today’s mobile and product-conscious consumers. It represents the future of the digitally powered consumer brand revolution.”