PROVEN Skincare has secured $12.2 million in new funding from investors. The company, founded in 2017 by two women of color, specializes in leveraging artificial intelligence to create personalized, adaptive, and clinically-effective skincare solutions. It aims to move beyond one-size-fits-all products by tailoring formulations to each individual’s unique needs.
At the core of PROVEN Skincare's offering is its proprietary, award-winning Skin Genome Project™ database, which it describes as the world’s largest beauty knowledge base. This technology processes millions of scientific data points to develop customized skincare formulations that deliver targeted results. The company has garnered significant recognition for its innovation, including MIT’s AI Technology of the Year Award and Glossy’s Best Use of Technology Award, alongside securing the first-ever U.S. patent for personalization in skincare. This investment round highlights investor confidence in PROVEN Skincare's AI-driven approach to the beauty industry.
The newly raised capital will be directed towards supporting PROVEN Skincare's continued growth initiatives. This includes further development of its artificial intelligence technology, expansion of its product offerings, and scaling operations to meet increasing demand. The company reported significant growth last year, exceeding 50%, and has also expanded its portfolio with the 2022 launch of Noteworthy Scents, a sister company that applies AI to fragrance discovery. The funding is expected to enable PROVEN Skincare to enhance its market presence and technological capabilities.
With this strategic investment, PROVEN Skincare is positioned to further its mission of transforming the skincare industry through personalized, data-driven solutions. The company plans to continue its pursuit of scientific innovation and expand its reach, reinforcing its commitment to individualized beauty experiences for consumers.
