Studs, the Gen-Z-geared piercing parlor enterprise that has been gaining steam, has announced the close of a Series B round of funding.
The company has raised $20 million in its latest round, including investment from Thrive Capital, First Round Capital and Lerer Hippeau — and bringing its total funding to-date to $30 million.
Studs says this injection of cash will fuel further expansion of the company’s physical piercing parlor retail concepts, which it has named Studs Studios. This year, Studs opened locations in Boston, Austin and Los Angeles and says it has three outposts planned to open before the end of this year, including Miami, New York City’s Upper East Side and an additional Austin location.
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Additionally, Studs will continue to grow its e-commerce ambitions and further the marketing of its signature “Earscaping” concept — where Studs employees “style” an earlobe with piercing jewelry and placement. The company says its piercing studios have an average four-week wait for a piercing appointment, and that drops of piercing jewelry on its website often sell out.
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Studs chief executive officer Anna Harman, who cofounded the company with chief brand officer Lisa Bubbers, said of the investment: “This strategic funding will help accelerate our growth so we can bring our industry-leading piercing experience to more markets across the U.S., while expanding our online offering to meet the needs of our growing customer base. Customers are celebrating self-expression and marking milestones with multiple ear piercings, and we’re excited to help them upgrade their earscape through a truly differentiated experience.”
Nabil Mallick, a general partner at Thrive Capital, added: “In just a short period of time, the Studs team has built a great brand and a trusted relationship with consumers. We’re confident it will be the defining company in its category and excited for this next phase of the business.”