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12 Sep

Personalized Beauty Brand Proven Raises $12 Million in Series

Personalized Beauty Brand Proven Raises  Million in Series

Customized beauty company Proven has raised a $12.2 million Series A from existing investors, with NewH2 Ventures acting as lead investor. 

Proven, which already raised around $9 million in previous rounds, operates two brands: Proven Skincare, the AI-powered, personalized skincare brand launched in 2019, and Noteworthy, a personalised fragrance line that launched earlier this 12 months. 

The corporate said it’s on course to clock in greater than $35 million in revenue in 2023 and be profitable by the tip of the 12 months. Inside that, Noteworthy has already generated upward of $5 million in revenue since its launch earlier this 12 months. 

“Since Proven launched in 2019, we have now built industry-leading technology that enables us to create personalized beauty products unlike anything ever available to the general public, and this latest funding allows us to proceed our essential work of constructing personalized skincare and fragrance the usual,” said Ming S. Zhao, who founded the corporate in 2017 with Dr. Amy Yuan.

With this funding, Zhao plans on investing in brand growth through creating latest products, advancing technology, and expanding the brands’ reach through growth marketing and inventive partnerships. Proven will even be trying to grow its team.

Noteworthy operates by first asking customers to take the Fragrance Finder Quiz, which incorporates just a few questions on customers’ personality, life experience and individual preferences to create their fragrance profile. From the profile, the algorithm is then capable of determine their personalized scent recommendations. 

The Discovery Kit containing 4 curated fragrance samples is $24.99, the Travel Spray is $37.49, and every of the three.3 oz eau de parfums cost $124.99.

Proven Skincare, meanwhile, also begins with a three-minute quiz, from which Proven’s algorithm analyzes thousands and thousands of things to pick out the very best ingredients for purchasers’ skin. 

The brand offers five products personalized to customers’ needs: Personalized Cleaner, Personalized Day Moisturizer, Personalized Night Cream, Personalized Day Eye Cream and Personalized Night Eye Cream.

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