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Perfect Corp. Raises $50 Million in Series C Funding

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AR-powered beauty live casting uses virtual makeup try-ons to engage users

AR-powered beauty live casting uses virtual makeup try-ons to engage users

Perfect Corp. received a Series C investment of $50 million led by Goldman Sachs that will reportedly be used in augmenting the company’s artificial intelligence (AI) beauty technology solutions across multichannel retail and drive corporate global expansion.

Previously: Glosslab Raises More Than $3 Million in Funding

The new funding comes as the company announces scaled up operations, more AI tech investment and marks plans for continued global expansion with a complete suite of beauty tech solutions across all categories for e-commerce, stores, social channels, web and mobile app.

Goldman Sachs' Launch With GS is a $500 million investment strategy. Perfect Corp. will join a global portfolio of companies that have access to the Launch with GS network of over 10,000 entrepreneurs.

Xinyi Feng, a managing director in the merchant banking division of Goldman Sachs, said: “The integration of technology through artificial intelligence, machine learning and augmented reality into the beauty industry will unlock significant advantages, including amplification of digital sales channels, increased personalization and deeper consumer engagement. Led by Alice Chang, Perfect is situated to innovate into this industry-changing integration period. We are also delighted to welcome the company to our global Launch With GS initiative, which aims to increase access to capital and support diverse entrepreneurs around the world.”

Alice H. Chang, CEO of Perfect Corp, said: “We are thrilled to be working together with Goldman Sachs who share our vision of pushing the envelope of innovation to deliver the most interactive and enriched beauty shopping experiences. This series C investment will further drive the development of our solutions globally across all beauty categories and channels for the complete 360 beauty SaaS experience for consumer.”