BoldHue is a female-founded technology company from San Francisco that is revolutionizing the beauty-tech category with its unique foundation-matching technology. Recently, the company secured an oversubscribed seed round, amounting to nearly $5.2 million in funding to date.
The “Keurig for Makeup”
BoldHue’s patented device has been referred to as the Keurig for makeup. The device scans your face and gives you a customized foundation formula that will suit your skin tone. No more hassles trying to locate which particular color you need. BoldHue’s innovation challenges the beauty industry’s standard of offering quick foundation formulation brought to your doorstep.
Seed Round Success
The recent seed round, facilitated by Lucas Venture Group, secured $3.37 million. The others are Capital Eleven, Backstage Capital, Tacoma Ventures, Mark Cuban, and Kevin Huvane. It is BoldHue’s first-priced round after the initial investment from friends and family and pre-seed financing.
Shipping and Roadshow
BoldHue has over 40,000 customers waiting to buy the product, and the company aims to deliver 10,000 units in the fall. Specifically, the BoldHue street team, known as “BoldCrew,” will conduct a nationwide roadshow to create awareness of their new technology before implementing the market entry strategy.
A Female-Led Company
BoldHue was founded by a woman, which aligns well with the mission of Lucas Venture Group to invest in women-led businesses. CEO and co-founder Rachel Wilson also stated that they were happy to receive such a warm response from investors, which aimed to transform the global beauty-tech market. When it comes to the future of BoldHue, consumers will be able to see the proverbial beauty in a simple scan.
Vision and Mission of BoldHue
BoldHue aims to redefine the beauty-tech industry. They accomplish this by introducing a foundation device based on the customer’s skin type that offers an immediate application of customized shades of makeup. Their main goal is to ensure that every customer and makeup lover has his or her customized foundation.
At BoldHue, we envision establishing ourselves as a pioneer of innovative and superior beauty technology. It is an elegant solution that guarantees that everybody gets his/her perfect match foundation without any effort. In this way, BoldHue provides immediate and specific makeup to every person and makes them feel confident and beautiful.
BoldHue’s personalized foundation formulation
The beauty industry has had a major overhaul with the creation of BoldHue, a personalized foundation device. The countertop-sized device employs a “wand” that you place on the various areas of your face to capture skin tone. The skin typing algorithm is patented, and it helps the BoldHue application determine your skin type using the information gathered. Five pigments, namely blue, black, red, yellow, and white, provide a weekly supply of individualized foundation that complements the user’s skin tone.
Conclusion
BoldHue aims to expand the use of its technology to other color cosmetic sub-categories outside the foundation sector. This could include innovations in lipstick, hair dye, or other aspects of skin care. Since the company primarily focuses on customized beauty solutions, BoldHue may want to augment makeup practices and improve beauty regimens.
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