Drybar Raises $20M

Los Angeles-based hair chain Drybar--which just does "blowouts", those popular hairstyles that involve blow drying hair to achieve a specific look--recently raised $20M in a funding round. The funding came from SPK Capital, Castanea Partners, and angel investors Janet Gurwitch (Laura Mercier Cosmetics, Neiman Marcus), Ron Frasch (Saks Fifth Avenue, Bergdorf Goodman), and Paul Pressler (Gap, Walt Disney). The company said the new funding brings its total raised to more than $50M. The company said the funding was managed by Piper Jaffray. More information »