Working in a $200 billion global beauty industry, New York-based startup Prose is using modern technology to disrupt the sector and improve the consumer shopping experience. By using software and supply chain infrastructure the custom hair brand company specializing in holistic, organic hair products plans to shift away from the classic fast-moving consumer goods (FMCG) model.
Prose offers detailed, online consultations, based on algorithms, to consumers looking for personalized hair care. The company offers a wide array of ingredients for hair-care, all of which are natural and environmentally friendly with many vegan and gluten-free options. By mid-2019, a new manufacturing facility in Brooklyn will have the ability to customize up to 10,000 products per day, following on quickly from its launch in early 2018.
Recently, the company completed a Series B financing round, raising $18 million from Insight Venture Partners that can be used to invest in a data science team and further R&D. Co-founder and CTO, Nicolas Mussat, explains how the company can improve customer service by processing user’s feedback more efficiently, as well as by training algorithms to better serve consumers as a whole.
“Prose is paving the way for change in the beauty industry with micro-personalization, and when you look at their growth and success over the past 12 months, it’s clear that consumers were ready for that change,” says Kirsten Green, Board Director and Founding Partner at Forerunner Ventures.
