In the heart of the UK, Skin + Me is redefining skincare by democratizing medical-level advice and instilling confidence in individuals through its innovative approach. With a recent injection of £10 million in funding, the startup is poised to meet the increasing demand in the skincare landscape.
Navigating the complexities of skincare often proves to be a daunting task for many, from discerning effective products to accessing affordable, quality solutions. This struggle not only impacts self-esteem but also underscores the limited accessibility to dermatologically-backed products.
Addressing this issue head-on is Skin + Me, championing a consumer-friendly, prescription-based, and personalized skincare approach. The platform’s popularity surge has now culminated in securing additional funding to fuel its ongoing expansion.
Key Funding Details:
- A substantial €11 million (£10 million) raised in a Series B funding round.
- The funding led by Octopus Ventures.
- Noteworthy growth reported, with a remarkable 100% year-on-year increase, making the company cash generative within just two years.
Established in 2020, Skin + Me has pioneered a teledermatology service driven by impact. The startup offers tailor-made treatments with prescription-only active ingredients, targeting various skin conditions such as acne, rosacea, dark spots, pigmentation, as well as concerns like visible pores, fine lines, or texture.
The user journey is streamlined – individuals complete an online questionnaire and subscribe to a personalized skincare plan. Expert Dermatologists design treatment pathways, while Pharmacist Prescribers formulate the solutions.
With a staggering 24% of the UK population seeking skin treatments annually, Skin + Me addresses an unmet need in the market.
Horatio Cary, Co-Founder and CEO of Skin + Me, emphasizes the company’s mission: “The global skincare industry is worth £140bn, and more than 50% of consumers are dissatisfied because they want a product that works. We built Skin + Me to make medical skincare, proven to be far more effective than any cosmetic products through decades of clinical studies, accessible to everyone.”
Results speak for themselves – a brand survey revealed a 133% improvement in customers’ skin, elevating the average baseline rating from 3/10 pre-treatment to 7/10 after 12 weeks of product use. Skin + Me has already provided prescriptions to hundreds of thousands of UK consumers, enhancing their confidence.
Horatio Cary anticipates a shift in the skincare market, stating, “We expect the £140bn global skincare spend to shift quickly towards prescription-strength ingredients, and Skin + Me is ideally placed as the market leader in the UK to take advantage of this trend.”
Will Gibbs, Partner, Health, Octopus Ventures, commends the positive impact of Skin + Me and their market-leading personalization strategy: “Skin + Me leads the charge with their accelerated growth reflecting a step change that’s seen hyper-educated consumers shun off-the-shelf products in favor of highly efficacious solutions.”
The fresh funding injection will empower the medtech team to expedite growth through continuous innovation in personalized skincare and exploring new marketing channels.
