Matter of Fact skincare launched with $10 million in seed funding from Horizons Ventures, Cowboy Ventures, First Round Capital, and a group of angel investors.

WHO: Founded by former K-pop artist and Harvard grad Paul Baek, Matter of Fact is positioned as science-backed optimized skincare. The brand launched with two products: a waterless vitamin C serum formula that claims to be the most stable vitamin C serum on the market, and a hydrating cream via DTC.

WHY: According to Glossy, the funding will allow the brand to expand its current team of 10, continue R&D and clinical research, and launch two new products by the end of 2022.

DETAILS:

• Matter of Fact launched with $10 million in seed funding from Horizons Ventures, Cowboy Ventures, and First Round Capital with participation from angel investors Birchbox co-founder Hayley Barna and former Allure Editor-in-Chief of Allure Michelle Lee.
• The brand states on its website that its serum maintained stability of 94.25% ascorbic acid concentration after 16 months based on independent third-party lab research, which is higher than water-based solutions that reach 82% after eight months.