FemTec Health is acquiring tech start-up Mira Beauty, which uses data and artificial intelligence to match a consumer’s attributes with beauty products and content they might find relevant, for $28 million.
WHO: Founded by Stanford graduates Jay Hack and Brandon Garcia, Mira reaches millions of beauty shoppers weekly; counts over 100,000 products from more than 3,000 brands; and translates over 10 million product pages, authentic reviews, photos, and videos into one clear, simple, and personalized shopping experience that is retailer agnostic and transparent. Using modern machine-learning techniques, Mira provides a personalized and prescriptive end-to-end beauty browsing experience democratizing the world of beauty by translating millions of product reviews into digestible product synopses. Users can find out what consumers really think, do side-by-side comparisons, and click through to purchase their favorite products for the best price. At any time, users can ask for advice and get product recommendations from users with similar skin types, skin tones, and aesthetic preferences.
Founded in May 2020 by Dr. Kimon Angelides and publicly launched in October 2021, FemTec Health is the leading health and beauty sciences company focused on women’s health. FemTech Health’s mission is to revolutionize women’s healthcare by using state-of-the-art genomics, predictive intelligence, and digital technologies to create a unified, coordinated experience and provide personalized services and products that are meaningful and effective for women.
IN THEIR OWN WORDS: “It’s really exciting to get our hands on the types of information that will help us do our jobs better,” says Jay Hack, cofounder of Mira. “It suddenly means you’re able to reach into that person’s life and have a much more intimate relationship with them.”
- FemTec Health is acquiring Mira Beauty for $28 million. The terms of the transaction were not disclosed.
- In September 2020, Mira Beauty closed a $9 million funding round to fuel growth led by 14W and Unilever Ventures with participation by a group of investors spanning cosmetics conglomerates, technology, and consumer venture capital firms, as well as marquee brand founders. In 2019 the platform raised $4.53 million from investors, including Unilever Ventures, e.ventures, Founders Fund, and Great Oaks Venture Capital.
- FemTech Health also acquired Birchbox and Liquid Grids, a social marketing company focused on the healthcare sector.