Participated · Series A · Oct 2017

Perfect Corp builds augmented‑reality and AI-powered beauty tools for consumers and brands, best known for the YouCam Makeup mobile app. The YouCam app offers virtual try-on from 300+ global brands, livestreams, tutorials, social features and a Skin Score; it reports about 40–50 million monthly active users. The company also sells B2B AR and SaaS solutions for in-store retail, e-commerce and social media, and about 90% of its clients are cosmetics or skincare brands. Its tech uses facial landmark tracking to build a 3D mesh for realistic try-ons, performs computing on-device, and the company states it does not save user photos or biometrics. Perfect Corp has integrations with partners including Google Search AR, YouTube and Snapchat, and offers an AI Skin Diagnostic verified by dermatologists that grades eight skin metrics. The Series C proceeds are earmarked to advance multichannel retail technology and to open more international offices; the company operates in 11 cities and is led by CEO Alice Chang in New Taipei City, Taiwan. Perfect Corp develops YouCam, an augmented-reality virtual try-on product that lets users preview makeup on their faces. The company has formed a strategic partnership with Alibaba to bring its AR technology to Alibaba’s online platforms. Alibaba will deploy YouCam on Taobao and Tmall for beauty products such as lipstick and eyeliner. Founder Alice Chang said the partnership will help Perfect form relationships with global brands and gain access to China’s beauty market. Perfect has attracted a new funding round led by Alibaba with participation from CCV and Taiwan’s Cyberlink Corp.; financial terms were not disclosed. Representatives for the parties did not immediately provide comment. Perfect Corp. develops a suite of mobile beauty apps that use augmented reality (AR) and artificial intelligence (AI) to transform how consumers try and buy beauty products. Its app portfolio includes YouCam Makeup, YouCam Perfect, YouCam Nails, and YouCam Fun, all available on the App Store and Google Play. The company reports more than 500 million app downloads and partnerships with over 150 global brands, including Estée Lauder, Yves Saint Laurent, L’Oréal Paris, MAC Cosmetics, and Macy’s. Management says the financing will be used to continue development of its mobile app suite and related technologies. CEO Alice H. Chang emphasized the goal of creating a fresh consumer experience beyond existing beauty industry models. Investors voiced confidence in the company’s disruptive AR/AI technologies and leadership position in the beauty industry.