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10 Apr

Matter of Fact Skin Care Brand Closes $6 Million

Matter of Fact has closed its second round of funding, to the tune of $6 million.

The brand, founded by Paul Baek in 2021, closed a round of additional funding with participation from Horizon Ventures and Cowboy Ventures, along with James and Nicky Hilton Rothschild, in addition to Birchbox cofounder Hayley Barna.

That brings Matter of Fact’s total funding to $16 million. The corporate raised $10 million in seed funding in 2021.

Matter of Fact currently only has two products, and sells directly on its website. The brand launched with a 20 percent vitamin C serum, which boasts two years of shelf stability resulting from a patent-pending delivery system, and likewise sells a moisturizer.

The brand’s primary focus has been fueling innovation, including various patent-pending technologies. “We’re a couple of yr and a half old, and we’ve been investing numerous our time and energy into product development, testing and looking out at latest delivery systems and technologies. It’s been all in regards to the product,” Baek said. “We now have two skus but more coming later this yr, growing the team, and we’re specializing in the foundations.”

Each product is formulated in-house, a process which Baek said breeds innovation but will also be time-consuming. “The professionals and the cons of formulating in-house are you can take as much time as you wish, but chances are you’ll find yourself spending more time on product development,” Baek said.

Baek has 10 patent-pending technologies, spanning a slew of concerns from sensitivity, pimples, redness and antioxidant defense. “The technical piece [of the business] is the infrastructure that I began constructing out first — in the primary two and a half years, there wasn’t anything,” Baek said.

Although the launch cadence has been measured, Baek has taken the long view in growing the brand’s assortment. “We’re a beauty brand, but now we have a really heavy bend toward product and innovation. I work with investors that understand and value our intense deal with product development and innovation and who consider that as being fun as an alternative of idealistic,” Baek said, adding that current stakeholders “understand the timeline that’s required to make a robust brand with excellent products.”

The newest infusion may even be aimed toward growing Baek’s team across different functionalities. “I’m ensuring we are able to construct and hire a team that may tackle the challenges of a business which will grow quickly — having key operations in marketing, in creative, all of those areas. A few of those got built out sooner than others,” he said.

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