IL Makiage joined the Unicorn Club on January 10, 2022, after raising a $130 million Series B funding round led by Franklin Templeton Investments, valuing the company at $1.5 billion. Headquartered in New York City, United States, IL Makiage is a tech-driven beauty and personal care brand offering AI-based product recommendations and data-driven personalization. With $130 million in total funding and a workforce of 51 employees (as of December 2022), the company has revolutionized digital beauty retail through machine learning and influencer-led marketing.
Keep reading to explore IL Makiage’s product innovation, funding journey, and what’s next for this beauty tech unicorn.
What Is IL Makiage and What Does It Do?
Founded in 1972, IL Makiage is a digital-first beauty and cosmetics brand that uses AI-powered personalization to deliver tailored makeup recommendations. The platform offers a wide range of products, including foundations, lipsticks, mascaras, eyeliners, highlighters, primers, and skincare solutions, all designed for professional-quality results.
Its proprietary PowerMatch technology utilizes machine learning and computer vision to analyze over a million data points collected from online quizzes and customer feedback, enabling hyper-personalized shade matching and product curation. The company’s digital platform integrates seamlessly with influencer-driven tutorials, enabling customers to discover looks that suit their unique style and skin tone.
IL Makiage’s mobile-first approach and innovative user experience have helped it stand out in the crowded beauty market, making it one of the first brands to fully merge AI, e-commerce, and beauty retail at scale.
How Much Funding Has IL Makiage Raised?
- Series B
- Amount Raised: $130M
- Date: January 10, 2022
- Lead Investors: Franklin Templeton Investments
- Motivation: To expand AI-driven personalization technology, enhance product development, and grow global e-commerce operations.
Total Funding Raised: $130M
Latest Funding Date: January 10, 2022
Current Valuation: $1.5B
Employee Count: 51 (as of December 31, 2022)
Key Investors
- Franklin Templeton Investments
- Details: A global investment management firm with a diversified portfolio across technology, consumer brands, and financial markets.
- Investment Focus Areas: AI-driven consumer tech, beauty innovation, and digital commerce.
- Fidelity Investments
- Details: A multinational financial services corporation with a focus on high-growth consumer and retail technology sectors.
- Investment Focus Areas: Digital retail, direct-to-consumer brands, and beauty technology startups.
Where Is IL Makiage’s Headquarters?
IL Makiage is headquartered in New York City, United States, positioning itself at the center of both global fashion and technology ecosystems. Its strategic presence in New York enables partnerships with digital marketing agencies, influencers, and e-commerce innovators while maintaining proximity to major investors and retail partners.
What’s Next for IL Makiage?
After achieving unicorn status at a $1.5 billion valuation, IL Makiage is focusing on expanding its AI-driven personalization capabilities and developing next-generation beauty tech solutions. The company aims to scale its e-commerce operations across Europe, Asia, and the Middle East while introducing new product lines in skincare and hybrid beauty.
Future initiatives include deeper integration of computer vision and augmented reality to improve the online shopping experience, enabling virtual try-ons and real-time makeup simulations. With its strong data analytics engine and tech-first approach, IL Makiage is redefining how consumers interact with beauty brands globally- blending science, creativity, and digital intelligence.
Get Investor & Funding Insights with TexAu
TexAu provides verified funding and investor data for companies like IL Makiage. Track funding rounds, identify top investors, and gather actionable intelligence to fuel your business growth.
Sign up for Free on TexAu and gain data-driven insights that power smarter decisions.
