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Proven Raises $12.2 Million Series A to Fuel Growth

Published September 13, 2023
Published September 13, 2023

Personalized skincare brand Proven closed $12.2 million in Series A funding from existing investors after reaching breakeven, debuting a personalized fragrance brand, and expanding into Europe and the UK.

WHO: Proven Skincare was founded by Ming Zhao and Amy Yuan, who combined their expertise to solve the challenge of finding the right skincare for individuals. Together they created the world’s most comprehensive AI-powered database of clinically effective ingredients through their Skin Genome Project, which uses computer science to analyze the effectiveness of over 20,238 ingredients, 100,000 products, 20 million consumer data points, and thousands of scientific articles on skin. Proven creates personalized skincare products that are based on more than 37 factors about an individual’s skin, genetic background, lifestyle, and environment, down to the level of pollution in a consumer’s local environment and the hardness of the water in their municipality. The formulations are developed by leading Stanford dermatologists and chemists.

WHY: This fresh capital will be used for product development, technology, and expanding their reach through growth marketing and creative partnerships. They will also focus on team expansion.

IN THEIR OWN WORDS: “Since Proven launched in 2019, we have built industry-leading technology that allows us to create personalized beauty products unlike anything ever available to the public, and this new funding allows us to continue our essential work of making personalized skincare and fragrance the standard,” said Proven co-founder and co-CEO Ming Zhao. “I’m often asked why personalization is so important, and the truth is, none of us would use a one-size-fits-all medicine to cure the body of an ailment. So if we wouldn’t take that approach to the rest of our body, why should we settle for basic beauty products that aren’t personalized to our unique needs? Consumers deserve more than one-size-fits-all beauty, they deserve personalized, technology-forward products that actually work. I am grateful for the continued support and partnership from H&H Group and thank all of our investors for joining us on this unbelievable journey.”


  • Proven raised a $12.2 million Series A from existing investors, with NewH2 Ventures serving as lead investor.
  • Proven has secured two groundbreaking patents that protect its use of personalization in skincare, partnered with Sephora, launched a personalized eye cream system, and expanded into Europe and the UK. 
  • Proven previously raised $6 million in seed funding and around $3 million in Regulation A+ funding. The company has reached breakeven and will be profitable by year’s end. 
  • In July 2019, NewH2, the innovation arm of Health & Happiness Group Ltd, made a minority investment in Proven Skincare and its AI technology.  
  • Other investors include Belcorp Ventures, Soma Capital, UpHonest Capital, Z Nation Lab, FJ Labs, and Mindset Ventures.
  • Proven was part of Y Combinator in Winter 2018.

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