Odore raises $830,000 to transform beauty marketing
Odore, the beauty tech start-up working with global brands including Guerlain, Clive Christian and L’Oréal has raised $830,000 to revolutionise how cosmetics and beauty businesses market their products to consumers.
The round was led by SFC Capital and joined by RLC Ventures.
Launched by university friends Armaan Mehta and Karan Gupta, Odore was originally founded to disrupt the world of beauty samples.
Inspired by a cologne sample picked-up in a department store on the way to an important meeting, the pair set about transforming the clunky, old-fashioned way in which beauty brands offer sample products into a digitised, personalised and measurable part of their marketing strategies. Following a stint on the L’Oréal Beauty Tech Accelerator in 2018, Odore’s pioneering sampling technology quickly attracted attention from household name beauty brands across the world.
Following this funding round, the team are now expanding their technology offering to cover a wider range of beauty marketing needs; enabling clients to launch measurable and tailored digital marketing campaigns that can be run and measured through one centralised dashboard. The global Consumer Packaged Goods (CPG) industry spent $68bn on digital marketing last year, but it’s estimated that more than half of that spend failed to see a positive return on investment (ROI).
The Odore technology will enable physical marketing such as samples and testers to be integrated alongside social media, email and paid advertising campaigns, as well as offering augmented reality integrations.
The business has seen a 401% increase in revenue over the past 12 months and will use this funding round to expand their engineering team and further improve their end-to-end marketing solutions for beauty and cosmetics brands.
Armaan Mehta, Co-Founder at Odore, comments: “Since launching in 2018, we’re developed fantastic relationships with beauty brands across the world, helping them re-write the rules of product sampling and bring it into the digital age. We’re now expanding the support we can provide to these businesses; enabling them to run hyper-personalised marketing campaigns that boost ROI and convert more customers, all from one dashboard.”