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Makeover Solutions To Beautify Site With $7M
Venture Wire
by Tomio Geron
November 7, 2007
Makeover Solutions Inc. has landed $7 million in its first venture round for its Web site, which allows women to test how they would look with different hair styles, makeup and accessories.
The funding, which closed in early October, was led by Village Ventures, with participation from Rho Canada and Borealis Ventures.
The New York-based company formed with the acquisition of Toronto-based Approach Infinity Media Corp., which previously operated MakeoverSolutions.com. Approach Infinity was founded in 2000.
The company also has appointed a new chief executive, Jeannette McClennan, a former executive with Local Matters Inc., Ogilvy Interactive NA, Omnicom Group Inc.'s Organic Inc. and MapQuest.com. Founder and former CEO Alvin Chan is staying with the company.
Makeover Solutions' Web site uses "try-on technology" that is analogous to what some other companies have done with virtually wearing clothing online.
Makeup Solutions users can upload their headshot photos and then can realistically apply different makeup, hairstyles or accessories to the picture. The items are automatically sized to fit and can be moved around on the picture as needed.
In addition to its own site, the company licenses its product to media companies such as InStyle.com and iVillage.com, as well as cosmetic companies such as Finesse and Revlon. The partners use the technology differently; InStyle, for example, often uses it to allow readers to try on celebrity hairstyles, from Halle Berry to Heidi Klum.
Jeff Grammer, a partner at Rho Canada, said Makeover Solutions is the leader in the segment. "They have a great graphics rendering engine that appeals to the cosmetic and hair segment," he said. "Their traction is very good with some early customers."
The site has some social networking features that allow users to post their "before" and "after" photos with certain styles or products and have others rate them. People can also have virtual conversations about so-called "home grown" solutions to beauty issues.
The company will use the funding to develop its social media technology and its branding and marketing.
Makeover Solutions is not yet profitable but is "about to turn the corner into black," McClennan said. The company has about 15 employees.
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