Living Proof secures $30m investment from institutional investors to accelerate market expansion

Technology-based beauty company Living Proof announced that it has secured a $30m investment from institutional investors, which will help to accelerate market expansion of its hair care products, and support the development and commercialisation of additional beauty technologies.

The financing was secured from new institutional investors including private equity firm Leerink Swann, along with its existing investor and company founder Polaris Partners, as well as the Pohlad Family Capital Fund.

Living Proof CEO Jill Beraud said the firm is happy with the new investment, which helps for the next phase of growth.

"The company is expanding market presence with existing, highly-innovative products, and preparing for the commercialization of new beauty technologies," Beraud added.

"Living Proof is well on its way toward the goal of becoming one of the most admired and trusted consumer products companies."

The firm recently roped in American actress and entrepreneur Jennifer Aniston as a company co-owner and hair product spokesperson and launched its first national marketing campaign.

The campaign promotes the power of Living Proof science to make every day a good hair day.

Living Proof co-founder and board chairman Jon Flint said, "In addition to accelerating market penetration, this major financing will give us the fuel we need to continue our original vision: bringing together some of the most brilliant scientists in medicine to create proprietary beauty products that truly work."

Living Proof is a US-based beauty products firm, whose portfolio includes technology-based hair care products.

The firm’s products can be found at top salons, Sephora, Ulta, Nordstrom, QVC and at Livingproof.com in the US.

Internationally, Living Proof products can be found at Space NK in the United Kingdom and Mecca in Australia and New Zealand.