Magnificence Tech Chief Good Corp. Raises $50M Sequence C Led by Goldman Sachs
perfect corp. youcam makeup ar 50m, NEW YORK–(BUSINESS WIRE)–Good Corp., the marvel {{industry}}’s primary know-how choices provider and developer of the award-winning digital magnificence app, YouCam Make-up, launched at current a Sequence C funding of $50 million led by Goldman Sachs, a primary worldwide funding monetary establishment. The model new funds will put cash into augmenting the company’s artificial intelligence (AI) magnificence know-how choices all through multichannel retail and drive firm worldwide development.
“The blending of know-how by the use of artificial intelligence, machine finding out and augmented actuality into the marvel {{industry}} will unlock important advantages, along with amplification of digital product sales channels, elevated personalization and deeper shopper engagement”
Good Corp. is a know-how pioneer using proprietary AI and augmented actuality (AR) choices to ease shopper ache components in a digital first world. With larger than 900 million app downloads and over 300 worldwide mannequin companions, Good Corp.’s YouCam Make-up know-how has upgraded the marvel {{industry}} all through lessons along with make-up, skincare, foundation, hair and AI face attributes utilized sciences allowing consumers to simply about try on SKUs, diagnose pores and pores and skin conditions, get personalized ideas and easily uncover magnificence merchandise.
The model new funding comes as the company declares scaled up operations, additional AI tech funding and marks plans for continued worldwide development with a complete suite of magnificence tech choices all through all lessons for e-commerce, outlets, social channels, web and mobile app.
“The blending of know-how by the use of artificial intelligence, machine finding out and augmented actuality into the marvel {{industry}} will unlock important advantages, along with amplification of digital product sales channels, elevated personalization and deeper shopper engagement,” said Xinyi Feng, a managing director throughout the Service supplier Banking Division of Goldman Sachs. “Led by Alice Chang, Good is situated to innovate into this industry-changing integration interval. We’re moreover delighted to welcome the company to our worldwide Launch With GS initiative, which targets to increase entry to capital and help varied entrepreneurs all around the world.”
Launch With GS is Goldman Sachs’ $500 million funding method grounded in a data-driven thesis that varied teams drive sturdy returns. As part of the funding, Good can be part of a world portfolio of companies which have entry to the Launch with GS neighborhood of over 10,000 racially, ethnically and gender varied entrepreneurs.
“We’re thrilled to be working together with Goldman Sachs who share our imaginative and prescient of pushing the envelope of innovation to ship basically probably the most interactive and enriched magnificence buying experiences,” said Alice H. Chang, CEO of Good Corp. “This sequence C funding will extra drive the occasion of our choices globally all through all magnificence lessons and channels for the entire 360 magnificence SaaS experience for shopper.”
About Good Corp.
With over 900 million downloads globally, Good Firm is devoted to transforming how consumers, content material materials creators and marvel producers work collectively collectively by the use of AI and AR utilized sciences. Our expert workforce of engineers and marvel aficionados are pushing the frontiers of know-how to create the marvel platform of the long term – a fluid environment the place individuals categorical themselves, be taught the most recent about development and marvel, and luxuriate in rapid entry to the merchandise from their favorite producers. To be taught each half about magnificence tech and unlock extremely efficient ROI secrets and techniques and strategies, be taught our Full Data to Magnificence Tech.
About Goldman Sachs Service supplier Banking Division
Based mostly in 1869, The Goldman Sachs Group, Inc. is a primary worldwide funding banking, securities and funding administration company. Goldman Sachs Service supplier Banking Division (MBD) is the primary coronary heart for the company’s long-term principal investing train. MBD is among the many primary private capital merchants on the planet with investments all through private equity, infrastructure, private debt, improvement equity and precise property.
