10Beauty in the News

Another quarter of team bonding and events in the books! From a murder mystery dinner to special guest speakers (shoutout Lindsay Binette - Founder of The Wavy Brain, LLC), we prioritized bringing our team together in meaningful ways. Here’s a recap of some of the highlights from Q3!

As we reflect on the past quarter, we’re excited to share the highlights of our latest incredible team events. June especially was a big month for 10Beauty celebrations and holidays, as we sought out to honor and celebrate Juneteenth and Pride. Read on to see how we acknowledged these important holidays, and the other various events we had along the way. Here’s a look at what we’ve been up to:

If a robot could cut down your next beauty service by more than half the time, would you let it? With the way things are going, it could become far more normalized than it sounds right now. Artificial intelligence and beauty have gone hand-in-hand for some time. From virtual shade-matching to skin analysis, brands including Sephora and Covergirl have thrived using these hands-off operations. According to an industry report, the compound annual growth rate (CAGR) of AI in the beauty industry from 2021 to 2027 is expected to be 33.2%. Notably, L'Oréal's Perso device—which uses AI to create personalized skin creams—is predicted to be worth $1 billion by 2025. But these innovations have nothing on what we’re expected to see in the next year alone.

The age of automation is here. With the rise of large language models like ChatGPT and advancements in computer vision—the technology used in Roomba vacuums and robotic surgery systems—AI technology is finally mature enough to be incredibly useful to beauty consumers. From AI-powered manicures to hands-free massages, robots are rapidly reshaping the beauty industry. Artificial intelligence in the beauty industry is estimated to be worth $13.34 billion by 2030, according to InsightAce Analytic. The robotics market size is estimated at $45.85 billion in 2024 and is expected to reach $95.93 billion by 2029.

As we bid farewell to the first quarter of the year, it's time to wrap up the exciting happenings that brought our team together in Q1.

Peter Thiel lamented the lack of flying cars, contrasting it with Twitter's simplicity. Yet, innovations like Roomba and now 10Beauty, an autonomous manicure machine, hint at a future closer to our dreams. Despite targeting businesses first, 10Beauty's success, with $38M in funding and sold-out first run, showcases the growing possibilities in robotics and automation.

10Beauty aims to revolutionize the $11 billion nail care industry with a robot that performs full manicures, targeting the 20 million U.S. women who regularly get their nails done. Developed by a team of 35 engineers and $38M in funding, it offers convenient, salon-quality manicures in non-traditional locations like high-end hair salons and retailers, at competitive prices. Co-founded by Alex Shashou and Justin Effron, 10Beauty leverages advances in robotics, computer vision, and machine learning, embodying innovation in beauty services.

On this bonus episode of Oversubscribed, Sara and Phil sit down with 10Beauty co-founders Justin Effron and Alex Shashou, who have created a fully automated manicure machine. They discuss the importance of finding the right partner, handling setbacks, building a product from the ground up, asking for introductions, and more.

As the tipping debate rages on, some women have found a quick and convenient way to avoid paying out extra cash at the nail salon.

According to filings with the U.S. Securities and Exchange Commission, 10Beauty is raising up to $23,999,942.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Justin Effron played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

10Beauty is developing what it says is the first fully-automated manicure robot. The Burlington, Mass.-based company started with the idea to bring intelligence and robotics to the beauty industry, an area its cofounder and co-CEO Alex Shashou says he thinks is ripe for innovation.

Burlington-based 10Beauty is developing what it says is the first fully-automated manicure robot.

10Beauty will launch an AI-powered manicure machine 'The 10' in late 2024 after pre-selling 1,000 units to Nordstrom, Ulta Beauty, and hair salons across the country. The groundbreaking machine has been in stealth development for the past 4 years. Single-use pods help maintain hygiene of each manicure and freshness of the polish.

10Beauty (the creator of the first full salon-quality manicure machine) announced it would launch at the end of this year, having secured $38 million in equity financing, including a newly closed $17 million extension to their Series A led by Shine Capital. Imaginary Ventures, Lerer Hippeau and Red Sea Ventures led their previous funding rounds.

10Beauty, a Burlington, MA-based creator of a salon-quality manicure machine, raised $38M in equity funding, including a newly closed $17M extension to their Series A led by Shine Capital.

10Beauty, creator of the first full salon-quality manicure machine, announced it will launch at the end of this year, having secured $38 million in equity financing, including a newly closed $17 million extension to their Series A led by Shine Capital.

10Beauty, with its robotics and automation, aims to modernize beauty services, offering a fully automated manicure machine. Founders Alex Shashou, Justin Effron, and Chris Casey developed this technology to fit beauty routines into the digital age, providing convenience and efficiency. Already securing deals for 1,000 initial locations, 10Beauty forecasts $13 million in pre-launch annual revenue, revolutionizing the $11 billion nail care industry.

10Beauty, creator of the first full salon-quality manicure machine, announced it will launch at the end of this year, having secured $38 million in equity financing, including a newly closed $17 million extension to their Series A led by Shine Capital. Imaginary Ventures, Lerer Hippeau and Red Sea Ventures led their previous funding rounds.

Ulta Beauty has been a pioneer in the implementation of AI tools. For example, prior to this year’s AI boom, in 2019, the company acquired AI company QM Scientific to focus on personalization.