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Tuesday, Sep 27, 2022

Co. Brings Transparency Into Cosmetics

The Good Face Project, a San Diego-based startup has secured early-stage funding and has inked deals with major customers in the beauty industry.

“We’re the leading ingredient transparency solution for the cosmetics industry,” said Iva Teixeira, co-founder and CEO at The Good Face Project. “We have a number of product offerings that are mostly in the technology and data space, both for retailers and brands.”

The inspiration for the company came after conducting consumer surveys on a consulting project for a major beauty conglomerate. Launched in 2018, its mission is to empower people to discover safe products that make them look and feel their best.

Analyzed Over 45,000 Products

The Good Face Project combines scientific research and artificial intelligence to fact-check product formulations for toxic or unsafe ingredients and then make their independently validated safety guide available to consumers.

In particular, it can analyze “tens of thousands” of ingredients, will certify and approve all products sold at the retailer. Teixeira said if anything is questionable, the startup will work with the brands to better source ingredients.

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To date, it has analyzed more than 45,000 products, and graded over 80,000 individual ingredients across 15 dimensions of safety, effectiveness, and cosmetic benefits.

“We help retailers curate the selection of products that they’re showing to any given shopper based on that shopper’s needs for more transparency, more helpfulness, as well as specific personal needs that have to do with the unique skin type or whatever concerns that person might have. All of our technology is data-driven, science-backed,” she said.

Launched an App

The company launched its consumer-facing app last year to provide consumers a platform to discover the safe products, with a goal to offer beauty brands an insight into consumer needs.
The app combines shopping and ingredient research, with links to purchase products on affiliate partners including retailers Amazon, Ulta, Sephora, Credo Beauty, Follain and Detox Market.

It uses an AI-driven product recommendation tool based on an individual user’s preferences, including age, skin type and skin concerns. The app also recommends products to consumers with a percentage match for their profile.

“The launch of the Good Face app is a huge step forward in our continued commitment to put consumers at the center of the beauty industry and empower them with information about the products they’re using,” said Teixeira. “We review their formula and ask them what percentage concentrations of any ingredients might be egregious. They have to show us where the ingredients came from,” she said.

Brands with products receiving the app’s “Good Face Approved” label include Suntegrity, OY-L, Odele and 100% Pure.

Investor Support

The Good Face Project is a graduate of the EvoNexus incubator program and is headquartered in La Jolla. The company received angel funding this year. Teixeira said that the coaching and introductions the company received from EvoNexus were “invaluable and very timely.”

“We believe that the team’s trifecta of ecommerce experience, knowledge of the beauty industry, and machine learning expertise, make The Good Face Project poised for rapid growth and success,” said Ryan Durkin, director at Wayfund, who invested in the Good Face Project’s Angel Round earlier this year.

Looking ahead, The Good Face Project said will to help brands reformulate products if they have concerns over a poor rating as well as expand its app capabilities. It is also working with two cosmetics manufacturing companies to develop clean formulations.
Prior to The Good Face Project, Teixeira spent several years building and scaling technology and data-driven venture-backed companies. She holds a BS in mathematics, an MS in operations research and engineering from the University of Michigan, and an MBA from Harvard Business School. Lena Skliarova-Mordvinova is the Good Face Project’s CTO and co-founder.

The Good Face Project

CEO: Iva Teixeira
BUSINESS: Providing ingredient transparency solution for the cosmetics industry.
WEBSITE: www.thegoodfaceproject.com
NOTABLE: The company graduated from La Jolla-based EvoNexus.
CONTACT: team@thegoodfaceproject.com


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