Intelligent Beauty will use the capital to expand its portfolio of brands through strategic acquisitions and increased media purchasing and marketing efforts. Adam Goldenberg, co-founder and co-CEO of Intelligent Beauty, said: "In less than two years, we've built an incredible team, developed proprietary technologies, proven our business model and reached profitability. With our unique business model, our marketing expertise and our proprietary technologies, we are able to bring new brands to market in about a third the time it takes traditional companies. This funding opens the door for us to continue our dramatic growth by launching or acquiring additional brands and multiplying our marketing efforts for all Intelligent Beauty brands." Ian Picache of Technology Crossover Ventures will join Intelligent Beauty's board of directors. Mr Picache said: "Intelligent Beauty is a very exciting company. It has built a strong team; created some terrific products; and developed a highly profitable, unique, and fast-growing business model in a huge market. We see great future potential and will work hard with the team at Intelligent Beauty to continue its rapid growth."