Private equity dollars keep rolling into beauty. Curology, which secured $4.2 million in funding from Sherpa Capital (known for investments in Munchery, Uber and Ipsy) and Forerunner Ventures (whose portfolio includes Warby Parker, Birchbox and Glossier) in 2015, has completed a $15 million Series B financing led by Advance Vixeid Partners, with participation from Sherpa Capital and Forerunner Ventures.
Curology, which is part of a larger virtual skin coaching boom, focuses on one-on-one dermatology care and personalized, prescription strength treatment for $20 per month. The brand offers acne and aging-related dermatology consultations, as well as customized prescriptions.
"David and the Curology team are fundamentally transforming the multi-billion-dollar acne treatment market."
Consumers share photos of their skin, and a licensed medical professional uses the company's platform to evaluate their condition and prescribe a personalized topical solution. The product is sent directly to the customer on a recurring basis, and the formula is adjusted as necessary through an ongoing relationship with Curology's medical professionals.
"This funding will accelerate Curology's mission to provide effective and affordable acne and anti-aging treatments to people across the country," said Curology founder and CEO David Lortscher. "Our business has grown five times in the past year; the capital raised will allow us to serve even more consumers frustrated by the skincare options available in the market today."
"In the U.S., there is only one dermatologist for every 36,000 people – and most are concentrated in major metro areas, meaning access to specialists is limited. As a result, many consumers settle for inadequate over-the-counter remedies," Lortscher explained.
Courtney Robinson, principal at Advance Vixeid Partners, added, "David and the Curology team are fundamentally transforming the multi-billion-dollar acne treatment market. By using technology to remove friction and cost from the conventional model, Curology can scale quickly and better serve consumers with accessible, effective, affordable treatment."