Goop raises 50 million dollars to expand globally

Goop, the lifestyle company founded by actress Gwyneth Paltrow, has raised 50 million dollars in series C funding.

Investors in the round included NEA, Lightspeed and Felix Capital, and brings Goop’s total outside investment to 82 million dollars, following family-and-friend funding, a 10 million dollar series A in 2015 and a 15 million dollar series B in 2016.

The new round of funding Goop said will be to fund its international expansion, with a specific focus on expanding e-commerce into Europe by the end of the year, as well as hosting overseas events.

Goop, which launched as a health and wellness newsletter, has been growing rapidly since launching as an e-commerce company, and has claimed it tripled revenue year-over-year for each of the past two years and is on track to more than double revenue in 2018. This is in part due to its Goop-branded product lines, including fashion, fragrance, skincare and home goods, as well as branded partnerships with Michael Kors and Stella McCartney.