09.12.23
Proven Skincare has raised a $12.2 million Series A Funding from existing investors.
NewH2 Ventures is the lead investor.
Proven operates two brands: Proven Skincare, the AI-powered, personalized skincare brand, and Noteworthy, a first-of-its-kind personalized fragrance company.
With the funding, Proven is investing in two key areas of growth: brand growth and team expansion. Proven will use the funding to continue to grow both Proven Skincare and Noteworthy, creating new products, advancing their technology, and expanding their reach through growth marketing and creative partnerships. Proven will also be growing its team to keep up with consumer demand and ensure both Proven and Noteworthy remain leaders in their respective spaces.
“Since Proven launched in 2019, we have built industry-leading technology that allows us to create personalized beauty products unlike anything ever available to the public, and this new funding allows us to continue our essential work of making personalized skincare and fragrance the standard,” said Co-founder and Co-CEO Ming S. Zhao. “I’m often asked why personalization is so important, and the truth is, none of us would use a one-size-fits-all-all medicine to cure the body of an ailment. So if we wouldn’t take that approach to the rest of our body, why should we settle for basic beauty products that aren’t personalized to our unique needs?”
‘Extraordinary Growth’
The funding comes after a period of extraordinary growth for the company. Earlier this year, Proven expanded into the personalized fragrance space with the launch of Noteworthy, the signature scent company that has already generated upwards of $5 million in revenue. Proven Skincare also launched the first-ever personalized eye cream system, which expanded into Europe and the UK, and was granted two patents that protect Proven’s use of personalization in skincare and partnered with prestige retailer Sephora. Proven previously raised $6 million in seed funding and roughly $3 million in Regulation A+ funding. The company has reached break-even and will be profitable by year’s end.