Brandefy, the Fast Growing Digital App and Platform to Make Beauty Shopping Smarter and Easier, Closes $ 1.7 Million Investment Round | State
RICHMOND, Virginia., August 10, 2021 / PRNewswire / – Beauty is Big Business, to the tune of 500 billion dollars in global sales every year. But with hundreds of new beauty products each launched month, consumers are struggling to find the best options for them. That’s why Brandefy is changing the way people find out about products. Brandefy, connects beauty enthusiasts with the best products and routines for them. With $ 1.7M when it comes to financing, the woman-founded business is well positioned to disrupt the traditional beauty shopping experience. Investors comprised of both venture capital funds and angel investors from all over United States. The investment funds included The Community Fund, Concept to Co and Red Bike Capital.
Brandefy’s centerpiece is its iOS app, which has nearly half a million downloads. There, users can compare formulas, ingredients, and prices to identify the best options for their needs / budgets. “People are overwhelmed by the sheer number of products, and many don’t understand why a skin cream costs $ 10 and another fee $ 100“Says the founder and CEO of Brandefy Meg pryde. “Brandefy helps them understand when to pay more for a high quality product and when to switch to a more affordable option that is just as good.”
For example, a user can compare the $ 24 Urban Decay Eyeshadow Primer Potion with $ 7 Milani eyeshadow base; Brandefy reveals a 79% ingredient match and shares a detailed user review that breaks down the similarities and differences regarding performance, packaging, and ingredients. An overall similarity rating tells users how close two products are, helping them guide them to the ideal product for their needs.
Brandefy’s need became clear to Pryde after working in consumer products and a tech startup. “I realized that people wanted an easier way to find the products they liked and that technology could simplify the process,” she says. As the next generation of a family of women entrepreneurs, she began to develop Brandefy while earning her MBA at the University of Virginia Darden Business School.
After launching a more general version of the app in 2018, she chose to make Brandefy a beauty-specific business. “Initially, people could compare all kinds of products, but the data showed that beauty was the engine of our growth,” she recalls. “Since we focused solely on beauty, we’ve seen massive growth in downloads, engagement, and active users. There really is an almost insatiable appetite for reliable, data-driven information on beauty products, and so far consumers have had the opportunity to get it. ”
With Brandefy, Pryde is shaking up the traditional approach to buying beauty products. In fact, by 2025, Brandefy is expected to help over 30 million people make better beauty choices. “Our users have a wealth of knowledge at their fingertips,” says Pryde. “I take pride in helping them be more informed and confident in their purchasing decisions.”
Brandefy is a privately held company based in Richmond, Virginia. Led by Pryde, the Brandefy team includes alumni from Estée Lauder, Perrigo, Ford and Wander Beauty. For more information on Brandefy, or to request an interview with Meg pryde, contact Marie-Laure Fournier-Uder, [email protected]
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