Hear From a 2022 Cool Company: The Good Face Project
We’re excited to share updates with everyone from 2022 Cool Company, Good Face Project.
Connect and Cool Companies is our place to foster relationships that will help us excel and accelerate today and in the near future. Every single opportunity to be in the presence of the Cool Companies community is pure gold in terms of being able to connect with others who are going from zero to one, and to learn from one another. Beyond that, the supportive conversations we find ourselves in are literally worth millions! The Connect team has been incredibly helpful with investor introductions and has contributed tremendously to the success of our funding activities.
Good Face Project is the formulation, regulatory and innovation platform used by hundreds of leading cosmetic companies to build safe, compliant and effective products. We’ve built the world’s largest centralized International Nomenclature Cosmetic Ingredient (INCI) level database which encompasses up-to-date scientific research, as well as worldwide regulatory and sustainability parameters, so teams can create and launch competitive and compliant products. Our proprietary tech is powered by science and AI so teams are always ahead of new regulations and their implications.
What's Happened Lately?
As the fastest-growing innovation platform for beauty, we were proud to announce a $5.65 million Series Seed funding round led by VMG Catalyst in August 2022. Participating investors include Spark Growth Ventures, REDO Ventures, Capsum, EvoNexus, and influential industry executives John Heffner (CEO, Summer Fridays and former CEO, Drybar), and Romain Gaillard (Founder and CEO, The Detox Market).
Only 20 months after its initial launch, our Good Face Formulator, is being used by hundreds of Beauty and Personal Care product creators to formulate thousands of effective, compliant and transparent cosmetics. The impetus for the Seed Round was the strong positive signal we received from R&D professionals in the industry, and the very clear understanding of how under-resourced these teams currently are. With the Seed Round behind us, our team can allocate funds to, both, growing the Good Face Formulator’s user base, and expanding its functionality to serve Beauty innovations more holistically over time.
What is the special sauce that makes your company unique?
We believe in the power of user-centric design powered by machine learning. Our truly humble approach to digging into the pain points of chemical R&D experts throughout their innovation cycle has positioned our technology for incredibly fast adoption by its user base. This, in turn, has provided our team with the legitimacy to ask bolder questions, and to attempt to solve for their answers alongside the innovators in the chemical industry. It’s a beautiful thing to watch!
Here at Connect our mission is to help San Diego’s incredible startup companies grow and succeed. We hope you enjoyed reading this check-in and if you or anyone you know might be a good fit for Cool Companies, applications are open until February 20th.