SAN FRANCISCO & MIAMI – (COMMERCIAL THREAD) – PROVEN Skincare (âPROVENâ or the âCompanyâ), a leading AI and technology-based consumer company that formulates and markets personalized skin care products, today announced the launch of its Regulatory A + capital fundraising campaign following the qualification of its US Securities and Exchange Commission (SEC) Form 1-A Offering Circular. The offer is open to accredited and non-accredited investors for a limited time.
âOur mission at PROVEN is to use data, technology and personalization to solve the skincare problem once and for all. The global skin care market is a $ 155 billion market, and yet one in two consumers are unhappy with the products they buy – at PROVEN, we’re changing that by providing individual consumers with the right products for them. their skin at the right time, âsaid PROVEN co-founder and CEO Ming S. Zhao. âWith this A + regulation offering, we are giving our community the opportunity to be part of the PROVEN growth story as we change skincare from its uniquely generic status quo to empathetic individuality. Since launching 2 years ago, we have seen tremendous growth and customer demand for our initial product line. This A + regulation offering will allow us to further innovate our proprietary AI technology and expand our success into new types of products, categories, channels and markets. Our goal is to build a global wellness movement based on technology and personalization.
About the founders
A female and minority skincare start-up, PROVEN is the first company to combine AI and big data to personalize skincare products. PROVEN and its award-winning technology were built in-house by Ming Zhao and Dr Amy Yuan.
Prior to founding Proven, Zhao was Head of Partnerships at NerdWallet, Private Equity Investor at Bain Capital and Strategy Consultant for the Boston Consulting Group. She holds an MBA from Harvard Business School and is certified in cosmetic formulation. Dr Yuan is a data scientist and engineer with a background in mathematics, physics and high performance computing with a postdoctoral degree in chemical engineering from Stanford and a doctorate in computational physics from USC. Dr Yuan led data science teams at Lyra Health and McKesson, where she focused on developing data products to enable better care for people using AI. During her PhD, Amy conducted one of the world’s largest science simulations in 2009 and published eight publications in the world’s top peer-reviewed physics journals.
âWe believe in empowering women across the spectrum,â Zhao said. âLess than 30 female CEOs have already listed a company. This investment opportunity is therefore a chance for women to make smart investment decisions, by women for women. With this offer, we are thrilled to make that vision a reality and to share our success with those who believe in what we do.
About PROVEN technology
Together with a team of leading dermatologists and scientists, Dr Yuan and Zhao created The Skin Genome Projectâ¢ – the world’s largest beauty database that harnesses the power of machine learning to make personalized skin care recommendations based on analysis of over 25 million consumer reviews and of 4,000 skin-related research articles. Everything useful on the web – from consumer product reviews to Reddit comments – feeds into PROVEN’s algorithm, where it delivers improved offers with every new piece of data.
Using a short three-minute quiz, PROVEN creates an individual profile based on over 45 categories, including skincare goals, geography, genetics, lifestyle, and more. Customers receive personalized advice on choosing products and care routines to suit their unique needs.
PROVEN has been featured on several global media outlets, including the hit ABC reality show “Shark Tank”, The Today Show, People Magazine, The Wall Street Journal, Allure Magazine, Fox Business, CNBC, Refinery29 and Forbes, who nicknamed PROVEN as âthe Tesla of skin careâ.
About the Regulation A + offer
As part of its A + regulation offering, PROVEN plans to raise up to $ 60 million through the sale of units priced at $ 6.60 each. The minimum investment has been set at $ 990 (150 units) to allow investors of all wealth levels and backgrounds the opportunity to join PROVEN and share ownership of this personalized skin care business powered by AI. The funds will be used to invest in more innovation and AI talent, to expand domestic and global marketing efforts for its existing products and to invest in research and development of new product lines and categories.
âOur consumers and our community built this business. We therefore want these same consumers and this same community to benefit from the value they have created in PROVEN. Two years after its launch, PROVEN has already grown into one of the fastest growing consumer brands and the leading provider of personalized skin care. So this is the most opportune time to own PROVEN to be part of our continued growth, âsaid Zhao. âIn our first full year on the market in 2020, we have already reached nearly $ 10 million in revenue, and this has continued to grow, now reaching an execution rate of over $ 24 million. dollars. And it was achieved with a single market, a set of commodities, a channel, and a category. We are expanding in all markets, in more products, in other channels and in all categories. So imagine what we can accomplish by moving through all of this. Additionally, following the success of our appearance on the Shark Tank TV show, PROVEN will be featured in a new original TV series called Going Public, where we hope to tell more people about PROVEN’s history and help them understand how monumental what we do is. is.”
Securities are offered in accordance with Regulation A + by Dalmore Group, LLC, an SEC registered brokerage, member of FINRA (www.finra.org) and SPIC (www.spic.org). Investors are encouraged to read the Offer Circular and Annexes before investing and to consult their financial, tax or legal professional before investing.
To find out more or to express your interest in investing, please visit: https://invest.provenskincare.com/.
PROVEN is a tech company that harnesses the power of big data and AI to create personalized skin care products. At PROVEN, we are building a global personal care movement based on technology and personalization. Thanks to our exclusive project on the genome of the skinâ¢ (algorithm) – the world’s largest beauty database – we’ve analyzed over 28 million consumer testimonials and 4,000 scientific skin articles to create simple, personalized, and clinically proven skin care products. Leveraging this vast database and the corresponding AI technology moat, PROVEN aims to leverage its success in North America to enter new international markets including China, Europe and South America. , and expand into new types and categories of products, including supplements, baby care and body care. PROVEN is a Y-Combinator alumnus and the 2018 recipient of the MIT AI Technology of the Year Award. Learn more at www.provenskincare.com.
This press release may contain forward-looking statements. We base these forward-looking statements on our expectations and projections regarding future events, which we derive from information currently available to us. These forward-looking statements relate to future events or our future performance, including: the investment received from the Regulation A + offering; our financial performance and projections; our revenue and profit growth; and our business prospects and opportunities. These statements are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially. We assume no obligation to update any forward-looking statements, except as required by applicable law.
AN OFFER STATEMENT REGARDING THIS OFFER HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THIS OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALE OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. THIS DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED ON THE SUBSTANCE, OR PASSED ON THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED IN THE OFFER STATEMENT. THE OFFERING CIRCULAR WHICH IS PART OF THIS OFFERING STATEMENT IS AT: https://www.sec.gov/Archives/edgar/data/1777318/000121390021040750/ea145276-253g2_lifespecta.htm YOU MUST READ THE OFFER FLYER BEFORE YOU MAKE AN INVESTMENT.