Financing to aid market expansion
American hair care brand Living Proof has received a $30m funding boost from both new and existing investors. The financing is expected to help the brand accelerate market expansion of its hair care products, and support the development and commercialisation of additional beauty technologies. Financing was supported by new investors including Leerink Swann, and existing investors Polaris Partners and Pohlad Family Capital Fund.
“We are extremely well-positioned for the next phase of our rapid growth,” said Living Proof CEO Jill Beraud. “The company is expanding market presence with existing, highly-innovative products, and preparing for the commercialisation of new beauty technologies. Living Proof is well on its way toward the goal of becoming one of the most admired and trusted consumer products companies.”
The brand, which was launched in 2004 by MIT Institute professor Bob Langer who sought to create a science-inspired beauty brand, has also just released its first national marketing campaign featuring actress and Jennifer Aniston, a company co-owner and spokesperson.
Living Proof is available in the US via Sephora, Ulta, Nordstrom, QVC and selected salons, as well as Space NK in the UK and Mecca in Australia and New Zealand.