Since its launch, Proven Skincare has achieved impressive growth. The company’s sales rose from less than USD 100,000 in 2019 to USD 10 million in 2020 and to more than USD 20 million during 2021.
Skin Genome Project
Co-founded by strategy consultant Ming Zhao and data scientist and an engineer Dr. Amy Yuan, Proven Skincare utilizes a three-minute quiz to create an individual profile based upon more than 45 categories, including skincare goals, geography, genetics, lifestyle, and more. The promise of this data crushing is a personalized combination of ingredients matching the customer’s specific skincare needs initially delivered in a set of three different products: a day moisturizer, a cleanser and a night cream.
To create the individual profiles, the algorithm created by Proven is capable of interrogating the "Skin Genome Project", an in-house database of built over 28 million consumer reviews and 4,000 skin-related research papers. According to the creators, it is “the largest beauty database on earth”.
New personalized eye cream duo
The same technology was used to create Proven Skincare’s two new products: Personalized Day Eye Cream and Personalized Night Eye Cream.
The creation of the duo comes after Proven surveyed its community about its skincare needs. Findings include:
70% worry about wrinkles on their face.
43% of those worry about eye wrinkles and crow’s feet.
58% are concerned about undereye bags.
82% are at least a little concerned about dark circles under the eyes.
Like all of Proven’s products, the two formulations are tailor-made to work for an individual’s unique skin and in harmony with its specific lifestyle and environmental factors.
“We considered the smallest details such as stress levels, hours of sleep, local pollution levels, and water hardness to create a unique solution that brightens users’ eyes and combats signs of aging like crow’s feet or dark circles,” said Proven co-founder and CEO Ming S. Zhao.
As for Proven’s initial range, customers have the option of taking out a subscription, then receiving regular shipments, or buying products as and when they need them. The Duo’s subscription price is USD 129.99 while the one-time purchase price is USD 179.99.
On October 2021, Proven Skincare launched a USD 60 million fund-raising round under the Securities and Exchange Commission’s Regulation A regime. At that time, the company said its aim was to use the funds to invest in further AI innovation and talent, to expand domestic and global marketing efforts for its existing products, and to invest in further research and development of new product lines and categories.