Advance Vixeid Partners, the growth equity firm backed by media group Advance Publications, led a $15m series B round for US-based prescription skincare provider Curology yesterday.
The round also featured venture capital firms Sherpa Capital and Forerunner Ventures, both of which participated as existing investors. Curology closed $2.9m in funding in September 2015 under its old name of PocketDerm, according to a regulatory filing.
Founded in 2014, Curology runs an online platform that enables users to share photos of their skin with qualified healthcare professionals who can then prescribe them with topical medication customised to their needs that costs $20 per month.
David Lortscher, Curology’s founder and CEO, said: “This funding will accelerate Curology’s mission to provide effective and affordable acne and anti-ageing treatments to people across the country.
“Our business has grown 5x 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.”
Advance Publications is the lead investor in Advance Vixeid Partners and also offers strategic insight. The firm typically invests between $10m and $25m in companies at “the intersection of technology, media and marketing”.
Courtney Robinson, principal at Advance Vixeid Partners, said: “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.”
– Image courtesy of Curology