Today Cambridge-based Living Proof announced raising a $16 million Series B round from current investor Polaris Venture Partners and a new investor, global investment bank Piper Jaffray.
Living Proof was founded by Polaris and Dr. Robert Langer, a world renowned biomedical scientist who’s name is attached to MIT’s Langer Labs, to use advanced technologies to develop new beauty products. The company has a unique, science-centric approach and uses new materials to invent breakthrough hair and skin products. Heard of No Frizz (in Sephora, QVC and professional salons across the globe), the silicone-free frizz-elimination hair product? That’s brought to you with thanks to Living Proof. More recently the company launched a line of volume-building hair products under the Full brand, which won the 2010 Allure Breakthrough Product Award.
“Living Proof is a unique growth company with a problem-solving brand. By teaming with MIT?s Langer Labs, Living Proof has mixed technology and beauty to create real product innovation. We are pleased to be an investor in the Company” says Bob Rinek, Managing Director and Co-Head of Merchant Banking at Piper Jaffray.
Living Proof is made up of a team of founders, scientists, and beauty industry experts. The company’s scientists are from outside the beauty industry, and focus on applying advance technologies and using new molecules to invent more efficient beauty formulas. (Read more about each scientist here on their team page.) You can learn more about the tools, techniques and science that sets this company apart here, including the “Dynamic Vapor Sorption Machine” and “Scanning Electron Microscope.” We’d also recommend you check out the Living Proof blog, which features stories from the Lab and customers, their processes, and the scientists behind the products.
“We are delighted to have Piper Jaffray Merchant Banking as an investor in the Company,” says Jon Flint, Executive Chairman and CEO of Living Proof and co-founder of Polaris Venture Partners. “Piper Jaffray brings deep industry knowledge in the consumer sector and is an industry leader in growth company investment banking.”
Currently Living Proof has three science-centric product lines – full, anti-frizz and hold:
