DTC skincare start-up Matter of Fact closed an additional $6 million round of funding, bringing the total funding raised to date to $16 million.
WHO: Founded by former K-pop artist and Harvard grad Paul Baek, Matter of Fact is positioned as science-backed optimized skincare. The brand has two products: a waterless 20 percent vitamin C serum formula that claims to be the most stable vitamin C serum on the market, and a hydrating cream. Currently, the brand is only sold DTC.
WHY: The fresh capital will be used to launch new products and grow the team across functionalities.
IN THEIR OWN WORDS: “We’re a beauty brand, but we have a very heavy bend toward product and innovation. I work with investors that understand and value our intense focus on product development and innovation and who think of that as being fun instead of idealistic,” Baek told WWD, adding that current stakeholders “understand the timeline that’s required to make a strong brand with excellent products.”
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