Mira Beauty
Online marketplace for beauty products, cosmetics, makeup and tools.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
$28.0m Valuation: $28.0m | Acquisition | ||
| Total Funding | 000k | ||
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Mira Beauty, legally known as Mira AI, Inc., was established in 2017 in San Francisco by Stanford University graduates Jay Hack and Brandon Garcia. Hack, with a background as a data scientist at Palantir Technologies, took on the role of CEO, while Garcia, previously with AIBrain and Arrow Ridge Capital, became the COO. The founders aimed to address a gap in the beauty market by creating a centralized, technology-driven platform to simplify the consumer's product discovery and purchasing journey.
The company developed an AI-based mobile application and website that functions as a comprehensive search engine and collaborative library for beauty products. The platform aggregates and translates millions of product pages, customer reviews, photos, and videos from various online sources into simplified, digestible summaries. A key feature is its use of machine learning and computer vision to analyze users' facial attributes, skin type, and tone, providing personalized product recommendations. This technology allows consumers to compare products side-by-side, filter by characteristics like price or ingredients, and connect with other users who have similar beauty profiles for advice.
Mira Beauty operated a retailer-agnostic business model, earning revenue through affiliate links when users clicked through to purchase products from retailers. The platform hosted a vast catalog, boasting over 100,000 products from more than 3,000 brands. The company secured significant venture capital, raising $4.53 million in an initial seed round and a subsequent $9 million round in September 2020, with investors including Unilever Ventures, Founders Fund, Great Oaks Venture Capital, and 14W. In a notable corporate milestone, FemTec Health acquired Mira AI in November 2021 for approximately $28 million. Following the acquisition, the assets of Mira AI were later sold to Longmont Acquisition Corporation in May 2023.
Keywords: beauty tech, AI-powered, product discovery, personalized recommendations, skincare, makeup, e-commerce, venture capital, affiliate marketing, consumer technology