THE WHAT Med-spa Ever/Body has raised $38 million in a Series B funding round, led by Tiger Global Management, as consultations, botox and male clients all experience huge growth during the pandemic.
THE DETAILS The U.S. business, which launched in 2019, offers procedures such as laser facials, Botox, HydraFacial, fillers and laser hair removal, with the funding including equity and debt.
Additional investors include Fifth Wall, MetaProp and Gaingels, as well as existing investors Declaration Partners, Acme Capital and Redesign Health.
The Series B funding brings the total capital raised to $52 million.
The capital is set to be used to finance further expansion, with the company set to open new bricks and mortar locations, as well as launching a line of branded prescription dermatology products.
Funds will also be used to ‘enhance Ever/Body’s proprietary technology and client experience, and invest in new services to expand its current treatment menu.’
THE WHY According to Amy Schecter, CEO, having a high profile investor, such as Tiger, highlights ongoing opportunities in cosmetic dermatology.
She said, “The aesthetics industry is experiencing exponential growth, proving massive potential in a market that’s expected to increase at a compounded annual rate of 9.8% in the coming years.
“Ever/Body is poised to lead this growth by delivering personalized care that is far beyond the industry standard, made possible by our proprietary technology, training programs, and a highly-customized client experience.”