Total amount raised
$18.2 Millions
Latest funding date
09/01/2023
Location
Proven Skincare has successfully raised $12.2 million in a Series A funding round, attracting notable investors such as NewH2 and Belcorp Ventures. This significant capital injection is set to propel the company's development and expansion efforts.
Keep reading to explore the intricacies of Proven Skincare's fundraising journey and the investors backing this innovative platform.
What Is Proven Skincare?
Proven Skincare, founded in 2016 by Amy Yuan Zaoshi and Ming S. Zhao, is based in San Francisco, California. The company operates in the beauty, cosmetics, and e-commerce industries, leveraging artificial intelligence to create personalized skincare products.
With a team of 11-50 employees, Proven Skincare offers scientifically-backed, clean, and effective skincare solutions tailored to individual needs. Their product lineup includes personalized skincare regimens and eye creams designed to address specific skin concerns and environmental factors.
How Much Funding Has Proven Skincare Raised?
- Series A Funding
- Amount Raised: $12.2 million
- Date: September 2023
- Lead Investors: NewH2
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Proven Skincare and Noteworthy brands, build out the team, and advance technology.
- Seed Round
- Amount Raised: $6 million
- Date: February 2019
- Lead Investors: Belcorp Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for initial product development and market entry.
- Convertible Note
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
- Seed Round
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
Total Amount Raised: $18.2 million. Current Valuation: Not publicly disclosed.
Key Investors
- NewH2 Ventures
- Details: NewH2 Ventures is the innovation arm of Health & Happiness Group Ltd. They led the Series A funding round for Proven Skincare.
- Investment Focus Areas: Health, wellness, technology.
- Notable Investments: Proven Skincare.
- Belcorp Ventures
- Details: Belcorp Ventures is a venture capital firm that participated in Proven Skincare's funding rounds. They focus on beauty and personal care innovations.
- Investment Focus Areas: Beauty, personal care, technology.
- Notable Investments: Proven Skincare.
- Soma Capital
- Details: Soma Capital is a venture capital firm that invests in technology startups. They participated in Proven Skincare's Series A funding round.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Proven Skincare.
- UpHonest Capital
- Details: UpHonest Capital is a venture capital firm focusing on early-stage technology startups. They were involved in Proven Skincare's Series A funding.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Proven Skincare.
- Z Nation Lab
- Details: Z Nation Lab is a venture capital firm that invests in early-stage startups across various sectors. They participated in Proven Skincare's Series A funding round.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Proven Skincare.
What's Next for Proven Skincare?
Proven Skincare stands at the cusp of significant growth opportunities. With plans to expand its product lines and enhance its technology, the company is poised to capitalize on the growing demand for personalized beauty solutions. The recent partnership with Sephora and expansion into European markets highlight the vast potential for Proven's innovative AI-driven products.
Future fundraising efforts are likely to focus on further international expansion and technological advancements. Proven's track record of successful funding rounds and profitability makes it an attractive candidate for additional investment. However, the company must navigate challenges such as intense competition and maintaining the effectiveness of its personalized products as it scales.
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