Li guides GGV Capital into Function of Beauty's $150M round
GGV Capital’s Robin Li helps guide the firm’s re-investment in Function of Beauty, a producer of customizable hair, skin and body care products co-founded by Hien Kaplan and whose early backers include SoGal Ventures, whose founding partners are Elizabeth Galbut and Pocket Sun.
GGV and fellow existing investor CircleUp took part in New York company’s $150 million round that was led by L Catterton. The capital will be used to accelerate Function of Beauty’s product development, support its worldwide expansion and build its customized manufacturing capabilities. The company’s products are sold in 45 markets and it employs more than 400 people. In July, Function of Beauty launched customizable body products – body lotion and body wash – and in October rolled out customizable skin care products – cleanser, serum and moisturizer.
Hien, who is chief science officer, founded the company in 2015 with Zahir Dossa, who is CEO, and Joshua Maciejewski, who is chief operating officer. Hien and Zahir developed the first proprietary quiz in the beauty industry, defining which ingredients and formulations would meet each customer’s unique goals. Prior to Function of Beauty, Hien was a senior chemist with Zotos International. She also served as an R&D manager and formulator with Cosmetic Laboratories.