The Good Face Project, a San Diego, CA-based innovation platform for the next generation of beauty, raised $5.65m in seed funding.
The round was led by VMG Catalyst with participation from Spark Growth Ventures, REDO Ventures, Capsum, and influential industry executives including John Heffner (CEO, Summer Fridays and former CEO, Drybar), Romain Gaillard (Founder and CEO, The Detox Market), as well as Andy Ballester (Co-Founder, GoFundMe). Brooke Kiley, Partner at VMG Catalyst and Hem Suri, Founding Partner at Spark Growth Ventures, will be joining the board as director and board observer, respectively, as part of this raise.
The company intends to use the funds to expand the product experience, accelerate customer adoption, and scale the team.
Led by Iva Teixeira, Co-Founder and CEO, Good Face Project provides a formulation and regulatory platform for cosmetics that supports the full innovation cycle by infusing scientific ingredient-level data and insights. The company has built a large centralized International Nomenclature Cosmetic Ingredient (INCI) level database which encompasses up-to-date scientific research, as well as worldwide regulatory and sustainability parameters. Its cloud-based platform, the Good Face Formulator, enables efficacious product creation and formulation based on the latest science, while also allowing brands and manufacturers to grade their formulations against worldwide regulatory compliance requirements.
Customers include popular brands like The Honey Pot Company and Amika, manufacturers like Best Formulations and Dynamic Blending, retailers like Target and CosBar, and global Fortune 50 Cosmetics companies.
FinSMEs
23/08/2022