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Precision Skincare Brand Revea Lands Investment from Ulta Beauty

April 21, 2022
April 21, 2022
Revea

Precision skincare company Revea landed $6 million in a Seed II funding round led by Alpha Edison with participation from Ulta Beauty.

WHO: Founded in 2019 by a team that includes a former Estée Lauder VP of Innovation and LEO Pharma Chief Data Scientist, Revea uses Hyperspectral Imaging and AI to reimagine the skincare experience. The company has created the first diagnostic and bioinformatic platform connecting individual skin biology to its optimal ingredient formulation. Revea's science- and data-led model removes bias, continually learns from every measurement, and improves the skincare experience for every individual. With this scalable platform, Revea opens the door for innovation far beyond skincare.

In its San Francisco Lab, the company has already identified over 3,000 unique skin profiles, shedding light on why so many consumers struggle to find products that work for individual skin needs using the old “four skin types” model. With more users entering its database, the number of skin profiles will continue to grow.

WHY: This funding will launch the Revea Mobile Experience, which is currently in beta, to bring diagnostic capabilities to consumers' smartphones, expand Revea's on-demand manufacturing capability, and grow the team.

IN THEIR OWN WORDS: "For too long, skincare has been driven by marketing and mass manufacturing. We're on a mission to create the next generation of skincare rooted in science and data that works for each and every person, and is better for our planet," said Chaz Giles, Chief Executive Officer, Revea.

Since its launch, Revea has operated precision diagnostic imaging consultations and individually designed formulations from its brick-and-mortar San Francisco location. "We are a skincare technology company," says Giles. "And we are thrilled to have strong tech partners and beauty investors like Ulta Beauty to continue pressing forward."

"Ulta Beauty was founded to disrupt the status quo and today, we remain focused on doing just that across every touchpoint—with greater personalization than ever before," said Prama Bhatt, Chief Digital Officer, Ulta Beauty. "We are thrilled to support Revea as they continue to disrupt and deliver unique, personalized skincare solutions."

DETAILS:

  • Revea landed $6 million in a Seed II funding round led by Alpha Edison with participation from Ulta Beauty, Waldencast Ventures, GISEV, Verlinvest, and Kathaka.
  • WWD reported Giles industry sources think the brand could reach between $3 million and $7 million in revenues in 2022.
  • In March 2021, Revea closed a seed funding round led by Waldencast Ventures joined by Precursor Ventures, Joyance Partners, Ignite Ventures, and several angels.
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