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Virtual Try-on Business Perfect Corp. Raises $50M Series C From Goldman Sachs

Goldman Sachs is backing the beauty technology company.

Perfect Corp., which develops virtual try-on apps for the beauty industry, has raised a $50 million Series C led by Goldman Sachs.

The business plans to use the money to continue developing AI technology and drive global expansion.

Perfect is the business behind YouCam makeup, an app that let’s people virtually try on makeup, skin care and hair styles. The app also offers recommendations and aims to help shoppers find new beauty products.

The company is part of Goldman’s Launch With GS initiative, which is the investment bank’s $500 million effort to support diverse entrepreneurs. Perfect is led by chief executive officer Alice Chang.

Perfect has developed app technology for many in the beauty industry, including the Estée Lauder Cos. and Neutrogena. The business also recently worked with Google to created a makeup try-on product for the search engine.

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