Perfect Corp. raises $25 million to boost development of augmented-reality beauty apps

By

Sarah Ahssen

Translated by
Nicola Mira

Published
Oct 26, 2017

Taiwanese company Perfect Corp., a specialist in beauty apps, has recently completed a financing round worth $25 million (€21.2 million) led by Chinese investment fund China Creation Ventures (notably an investor in JD.com) alongside Yuanta Asia Investment, Extol Capital and CyberLink Corp. Perfect Corp.'s goal is to accelerate the development of its AI and augmented reality apps, such as YouCam Makeup, YouCam Perfect, YouCam Fun and YouCam Nails.

Perfect Corp., whose parent company is multimedia solutions provider Cyberlink, was created in 2004. It has not disclosed its revenue, but claimed over 500 million downloads for its apps worldwide, and mentioned collaborations with 150 international brands. Last July, the Taiwanese company signed a worldwide partnership agreement with L’Oréal, to incorporate all the make-up products by the French group's brands within the YouCam Makeup augmented-reality app.
 
"The capital will allow us to forge ahead with the development of our state-of-the-art apps, which have already attracted the world's top beauty brands, retailers and make-up experts, and international media too," said Alice Chang, CEO of Perfect Corp., who also featured in the first list compiled by www.glossy.co of the 50 new faces who are transforming the beauty, fashion and luxury industries.