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Living Proof Sees $30 Million Investment
Posted: February 21, 2013
Living Proof announced the closing of a $30 million financing that will accelerate market expansion of its hair care products and support the development and commercialization of additional beauty technologies. The financing was supported by new institutional investors including investment bank Leerink Swann and joined by existing investor and company founder Polaris Partners, as well as the Pohlad Family Capital Fund.
“We are extremely well-positioned for the next phase of our rapid growth,” said Living Proof CEO Jill Beraud. “The company is expanding market presence with existing, highly-innovative products, and preparing for the commercialization of new beauty technologies. Living Proof is well on its way toward the goal of becoming one of the most admired and trusted consumer products companies.”
Living Proof recently launched its first national marketing campaign with actress and entrepreneur Jennifer Aniston, a company co-owner and hair product spokesperson. The campaign, shot by Mario Sorrenti and created by Badger & Winters, promotes the power of Living Proof science to make every day a good hair day. The campaign has beguna appearing in major fashion, beauty and lifestyle publications.
Living Proof co-founder and board chairman Jon Flint, who is also co-founder and general partner at Polaris Partners, stated, “In addition to accelerating market penetration, this major financing will give us the fuel we need to continue our original vision: bringing together some of the most brilliant scientists in medicine to create proprietary beauty products that truly work.”