Ever/Body, the cosmetic dermatology provider of personalized, tech-enabled services, announced on Tuesday that it has raised $38 million in Series B funding, consisting of both venture equity and debt. The round was led by Tiger Global Management, an existing investor in the company. Additional investors include Addition, Fifth Wall, MetaProp, and Gaingels, and existing investors include Declaration Partners, ACME Capital, and Redesign Health. The Series B funding brings the company’s total capital raised to date to $52 million.
Since launching in September 2019, Ever/Body has quickly established itself as an innovator in the rapidly growing cosmetic dermatology industry, which is expected to reach $124.7 billion by 2028. As cosmetic dermatology becomes more commercialized, Ever/Body is emerging as a leader in the industry by approaching the market from a unique position, with technology and personalization at its core.
The company offers a tech-enabled consumer experience, curated menu of treatments, and tailored approach to each patient’s unique, long-term skincare goals. Treatments are overseen by chief medical officer Dr. Jared Jagdeo and administered by a team of expert medical professionals. Its two New York City locations have experienced accelerated growth, with strong patient retention and increased quarterly patient spend, despite the constraints of the pandemic.
The latest raise will support Ever/Body’s omnichannel strategy, including market expansion, with the planned opening of multiple new brick-and-mortar locations. Ever/Body will also roll out a line of branded prescription dermatology products, aimed at addressing key concerns such as acne, hyperpigmentation, wrinkle reduction, rosacea, and hair growth. Additional funds will be used to enhance Ever/Body’s proprietary technology and client experience, and invest in new services to expand its current treatment menu.
“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 percent in the coming years,” said Amy Shecter, CEO of Ever/Body. “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.”
“Ever/Body is a leader in the consumerization of healthcare, one of the most significant trends in retail today,” added Kevin Campos, partner at Fifth Wall. “The cosmetic dermatology industry is ripe for innovation, and we believe Ever/Body’s model, which combines deep medical expertise with technology, hospitality, and transparency, delivers a superior and more accessible consumer experience.”
Ever/Body is led by CEO Amy Shecter and a dynamic team of female executives. The company was founded by Kate Twist, who leads its board of directors as board chair, and Karen Castelletti, who serves as chief technology officer. Ever/Body currently has two locations in New York City’s SoHo and Flatiron neighborhoods.