Internet beauty marketing specialist secures funding boost
Technology Crossover Ventures (TCV) has invested $43m in the company, which has grown rapidly from its inception in January 2006 to an employer of 185 people today.
California-based Intelligent Beauty specializes in helping cosmetics companies realize the potential of the internet.
Online beauty sales are exploding but the internet is a complex distribution channel and success is not guaranteed.
Using technology to personalize marketing
Intelligent Beauty claims to use eCommerce and ad-serving technologies to help brands reach out to individuals in a way that only the internet is capable of.
The company also has a brand incubator that provides funding and resources to help build brands from scratch and get products to market in fast-moving environments.
“We have seen unprecedented growth within the beauty space by adapting to the consumers' need for information and convenience,” said Adam Goldenberg, co-CEO of Intelligent Beauty.
“Working with TCV gives us the ability to stay at the forefront of the beauty industry by continuing to develop innovative ways of reaching consumers through new media.”
Investment with Internet experience
TCV is an investment company with a large portfolio of internet-based firms, making it will placed to work with and further develop Intelligent Beauty.
“TCV's investment in Intelligent Beauty and extensive knowledge and expertise within the consumer Internet market opens the door for us to aggressively invest in maintaining the leadership of our innovative technologies," said Don Ressler, co-CEO of Intelligent Beauty.
As part of the investment, John Drew, general partner of TCV, will join Intelligent Beauty's Board of Directors.
“Intelligent Beauty is a strategic portfolio company that exemplifies the innovation and tremendous growth potential of the consumer Internet market,” said John Drew of TCV.
