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Virtual Beauty Platform Perfect Nets $50 Million


Perfect Corp., which works in tech solutions for the beauty field, announced its Series C investment for $50 million, according to a Wednesday (Jan. 6) press release.

The new funding will be used for augmenting Perfect’s artificial intelligence technology across multichannel retail and will go toward helping drive corporate global expansion, according to the release.

Perfect utilizes AI to fix consumer pain points as the world becomes more digital.

The company is known for its YouCam makeup technology, which offers various ways for customers to try on SKUs digitally, diagnose skin conditions, get personalized recommendations and get help finding new beauty products.

Now, with the new funding, the company has more of a way to further its AI development and scaling, the release says. The company’s global expansion will come with a suite of beauty tech solutions across all categories for eCommerce, stores, social channels, web and mobile app.

Goldman Sachs is leading the round, and Perfect will join the bank’s “Launch With GS” initiative, which works on boosting capital and supporting diverse companies around the world.

Alice H. Chang, CEO of Perfect Corp., said in the release the new 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.”

Perfect Corp. also recently debuted a new set of contactless makeup options, with new features like voice activation, gesture control, face mask detection and arm virtual swatch mode now being available, according to PYMNTS. The hand gestures will give users visual cues to help move through the whole experience. Shoppers can also snap pictures to get more information about certain products.

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Chang said the new features were meant to help the company build digital shopping options for customers as has become customary during the pandemic.

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NEW PYMNTS DATA: THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT 

About: The PYMNTS Subscription Bundling Report, surveyed a census-balanced panel of 2,962 U.S. consumers to gauge how their attitudes toward bundled subscription services have changed during the pandemic, especially those offered by companies in the streaming sector. The report also examines how the knowledge that a COVID-19 vaccine will soon be available throughout the U.S. could affect their perceptions.







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