Function of Beauty Secures $9.5 Million Financing
Boston – February 22, 2017 – Cooley advised personalized beauty company Function of Beauty on its recent $9.5 million Series A round, which was led by GGV Capital and included participation from Y Combinator, Bessemer Ventures and SoGal Ventures. GGV managing partner Hans Tung is now a board observer at Function of Beauty.
“Function of Beauty is pioneering an important new trend online – beauty personalization. Personalized beauty care is something that no other company has been able to do at scale,” Tung said to Women's Wear Daily, adding that the “combination of online, direct-to-consumer, plus the chemistry expertise sets this company apart.”
According to a TechCrunch article, Function of Beauty’s algorithm offers up to 12 billion custom combinations of shampoo and conditioner. The company plans to use the funding to refine the brand and product line, expand internationally and open a flagship store in New York.
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