Brandefy, the Fast-Growing App and Digital Platform, that Makes Beauty Shopping Simpler and Smarter, Just Closed an Investment Round of $1.7M

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Aug 10, 2021, 12:36 ET

RICHMOND, Va., Aug. 10, 2021 /PRNewswire/ -- Beauty is big business—to the tune of $500 billion in global sales each year. But with hundreds of new beauty products launching each month, consumers have difficulty finding the best options for them. That's why Brandefy is changing the way people discover products. Brandefy, connects beauty enthusiasts with the best products and routines for them. With $1.7M in funding, the female-founded company is well-positioned to disrupt the traditional beauty shopping experience. The investors comprised of both Venture Capital Funds & Angels from all over the United States. Investing funds included The Community Fund, Concept to Co, and Red Bike Capital.

The centerpiece of Brandefy 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 one skin cream costs $10 and another costs $100," says Brandefy founder and CEO Meg Pryde. "Brandefy helps them understand when to pay more for a high-quality product—and when they should switch to a more affordable option that's just as good."

For example, a user can compare the $24 Urban Decay Eyeshadow Primer Potion with the $7 Milani Eyeshadow Primer; Brandefy reveals a 79% ingredient match and shares a detailed user review that breaks down similarities and differences regarding performance, packaging, and ingredients. An overall similarity rating tells users how close two products are, helping to guide them to the ideal product for their needs.

The need for Brandefy became clear to Pryde after her time working in consumer-packaged goods and at a tech startup. "I realized that people wanted an easier way to find products they loved, and that technology could simplify the process," she says. As the next generation of a family of female entrepreneurs, she began developing Brandefy while earning her MBA at the University of Virginia Darden School of Business.

After launching a more general version of the app in 2018, she chose to make Brandefy a beauty-specific endeavor. "Initially, people could compare all kinds of products, but the data showed beauty as the driving force behind our growth," she recalls. "Since shifting our focus to beauty alone, we've seen massive growth in downloads, engagement, and active users. There really is an almost insatiable appetite for trustworthy, data-driven information about beauty products, and until now, consumers haven't had the opportunity to get it."

With Brandefy, Pryde is disrupting the traditional approach to buying beauty products. In fact, by 2025, Brandefy is projected to help more than 30 million people make better choices on beauty products. "Our users have a wealth of knowledge at their fingertips," Pryde says. "I'm proud to help them be more informed and confident in their buying decisions."

Brandefy is a privately funded company based in Richmond, Virginia. Led by Pryde, the Brandefy team includes alumni of Estée Lauder, Perrigo, Ford, and Wander Beauty. For more information about Brandefy, or to request an interview with Meg Pryde, contact Marie-Laure Fournier-Uder, [email protected].

Media Contact:
Marie-Laure Fournier
212-933-4550
[email protected]
https://beyondthelabel.brandefy.info/

SOURCE Brandefy