Skin Pharm has received a minority investment from Prelude Growth Partners, a female-founded growth equity firm.
The Nashville, Tennessee-headquartered company provides aesthetic skin care services and launched its own skin care line in 2018.
The US$15m investment will fund Skin Pharm’s clinic expansion plans across the US and contribute to its ongoing product development.
It currently operates five clinics in Nashville and Franklin in Tennessee; Atlanta, Georgia; Charlotte, North Carolina; and Dallas, Texas, with plans to open two more (in Alpharetta, Georgia and Houston, Texas) in coming months.
Skin Pharm’s product portfolio stands at 20 skus at present with the brand planning to channel the investment into further product development.
Skin Pharm was founded in 2017 by Maegan Griffin, a board-certified nurse practitioner with plastic surgery and dermatology experience.
“With this strategic partnership, we will be able to achieve our dream of expanding Skin Pharm to every major city and continue to stay at the forefront of an ever-changing industry – all while maintaining the same quality of care our patients and customers deserve,” said Griffin, who is also CEO of Skin Pharm.
“We are excited to work with a female-founded growth partner that shares our passion for supporting women in business.”
“Skin Pharm has created a uniquely differentiated, trusted brand with a quality of experience and loyalty which is unrivalled in the industry,” added Neda Daneshzadeh, co-founder and Managing Partner of Prelude Growth.
“We see long-term secular growth in this category driven by consumers seeking efficacy and results.
“We look forward to working closely together with Maegan and her team as they execute on their strategic growth plan.”
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