Mirror has raised an additional $34 million of financing, led by Point72 Ventures. Some of the other investors in the round include lululemon, supermodel, entrepreneur and philanthropist Karlie Kloss; Kevin Huvane, founder of Creative Artists Agency; Steve Lockshin, accomplished angel investor; seasoned media investors, LionTree LLC; as well as return investors, Spark Capital, and Lerer Hippeau. As part of the fundraising deal, Point72 chairman and chief executive officer Steven Cohen will join MIRROR’s board of directors.
Mirror’s previous round of fundraising was in February of 2018, when they raised $13 million from Spark Capita, as well as Lerer Hippeau, First Round Capital, Primary Venture Partners, BoxGroup, and Brainchild Holdings.
The Wall Street Journal has some additional information related to the fundraising, including that Mirror plans to use this funding to open additional retail stores and showrooms, as well as invest in trying to enter new markets like fashion and telemedicine.
It was also reported that with lululemon having invested in the company, you can expect to see lululemon ambassadors lead limited-edition Mirror classes.
Brynn Putnam, founder and CEO of MIRROR, said the following about the investment: “We’re thrilled to welcome new investors like Steve Cohen, Karlie Kloss and Kevin Huvane to the MIRROR family. Their support and vision for our growth will be instrumental in allowing us to develop groundbreaking content and reach more people where it’s most convenient. It’s particularly gratifying to be involved with lululemon again. I first worked with them almost a decade ago as an Ambassador and have long admired their exceptional team, as well as their vibrant community. There are significant synergies between our brands and I’m excited for the opportunity to innovate together”