SAN FRANCISCO – Hoping to secure a leadership position in the increasingly competitive category of on-line beauty supplies, Eve.com in July raised $17.5 million in its third round of venture capital financing.
The Series C round was led by new investor Weiss, Peck & Greer Venture Partners. Existing investors Menlo Ventures and Charter Venture Capital each made commitments that exceeded their pro rata rights. In February, the pair combined to invest $3 million in Eve.com’s Series B round. The company was formed as an idealab! incubator project last November.
Launched June 10, the Eve.com Web site distributes brand-name beauty supplies and provides users with aesthetic advise from in-house beauty professionals. Calvin Klein, Elizabeth Arden and Benefit are among the product lines the company distributes.
Eve.com has used the proceeds from the offering to hire separate agencies for on-line and off-line advertising campaigns. As part of the deal, Weiss Peck Partner Christopher Shaepe has joined eve.com’s board of directors.
Co-founder Varsha Rao said Eve.com will likely raise additional private capital before the end the year, although she would not specify whether it would come from venture or strategic investors.