Investment round to fund research and development of cutting-edge AR and AI technology applications for innovative beauty platform
New York, New York — Oct. 18, 2017 —Perfect Corp.the beauty industry’s leading app developer, announced today a Series A investment of $25 million led by China Creation Ventures and joined by Yuanta Asia Investment, Extol Capital and CyberLink Corp. The financing will be used to continue the development of Perfect Corp.’s popular mobile app suite that uses augmented reality (AR) and artificial intelligence (AI) to transform how consumers enjoy and interact with beauty products.
More than 500 million app downloads and excitement around the potential for AR and AI to revolutionize how consumers try and buy beauty products, has led to Perfect Corp. partnering with more than 150 global brands, including Estee Lauder, Yves Saint Laurent, L’Oréal Paris, MAC Cosmetics, and Macy’s.
“In a little over two years, Perfect Corp. has developed a leadership position in the large, fast-growing and hugely competitive beauty industry,” said Zhou Wei, Managing Partner of CCV. “What Alice and her team have achieved in such a short period of time is extraordinary, and our investment reflects the confidence we have that Perfect Corp.’s disruptive technologies will be instrumental in defining a new, better shopping experience for beauty enthusiasts.”
“We are thrilled to be working together with a great group of investors who share our vision of going beyond existing beauty industry models to bring a consumer experience that’s fresh and exciting,” said Alice H. Chang, CEO of Perfect Corp. “Capital investment will drive further development of the cutting-edge applications that have attracted the attention of leading beauty brands, retailers, makeup experts, and media outlets around the world.”
YouCam Makeup is available for free download on the App Store and Google Play.
YouCam Perfect is available for free download on the App Store and Google Play.
YouCam Nails is available for free download on the App Store and Google Play.
YouCam Fun is available for free download on the App Store and Google Play.
About Perfect Corp.
With over 500 Million downloads globally, Perfect Corporation is dedicated to transforming how consumers, content creators and beauty brands interact together. Our experienced team of engineers and beauty aficionados are pushing the frontiers of technology to create the beauty platform of the future – a fluid environment where individuals express themselves, learn the latest about fashion and beauty, and enjoy instant access to the products from their favorite brands. Further information about Perfect Corp. can be found at perfectcorp.com
China Creation Ventures (CCV) was founded by the former KPCB China Managing Partner, Wei Zhou. The fund focuses on early stage and growth stage companies in TMT industry in China, including Fintech, Chinese companies going oversea, technology innovation, big data, AI, and pan-entertainment related opportunities. In the past ten years, the team produced a 30%+ unicorn rate. They excavated and invested in portfolio companies including JD.com, CreditEase, JD Finance, Rong360, XMLY FM, Yixia, Asia Innovation, Tan Tan, Arrail Dental, KingNet, Zuche.com, etc.
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