SAN DIEGO, Aug. 24, 2016 /PRNewswire/ -- Curology, the dermatologist-founded direct-to-consumer prescription skincare company, today announced the completion of a $15 million Series B financing led by Advance Vixeid Partners, with participation from prior investors Sherpa Capital and Forerunner Ventures.
"This funding will accelerate Curology's mission to provide effective and affordable acne and anti-aging treatments to people across the country," said Curology founder and CEO David Lortscher, MD. "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."
For a fraction of the cost and none of the hassle of an in-person appointment, Curology offers acne and aging-related dermatology consultations, as well as customized prescriptions. Consumers share photos of their skin, and a licensed medical professional uses the Company's platform to evaluate their condition and prescribe a personalized topical solution. The product is sent directly to the customer on a recurring basis, and the formula is adjusted as necessary through an ongoing relationship with Curology's medical professionals.
"In the US, there is only one dermatologist for every 36,000 people – and most are concentrated in major metro areas, meaning access to specialists is limited. As a result, many consumers settle for inadequate over-the-counter remedies," Dr. Lortscher explained. "With Curology, they get one-on-one dermatology care and personalized, prescription strength treatment for just $20 per month."
Courtney Robinson, Principal at Advance Vixeid Partners, added, "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."
Curology is a customized, prescription skincare company, specializing in acne and anti-aging treatments. Founded in 2014 by David Lortscher, MD, Curology's end-to-end online solution enables patients to remotely share photos of their skin with a licensed medical professional, who after an initial consultation, prescribes patients a customized topical medication designed for their specific skin needs. Curology is currently hiring visual designers and marketing experts to join their San Francisco-based team.
ABOUT ADVANCE VIXEID PARTNERS
Advance Vixeid Partners ("AVP") invests in rapidly growing companies that operate at the intersection of the technology, media and marketing sectors. AVP is an independent growth equity investor with unique insights, access and value creation resources created by the firm's strategic relationship with Advance Publications, Inc., one of the world's premier global media franchises. AVP seeks to invest $10 million to $25 million in each of its investments, and is a hands-on partner to entrepreneurs in growing businesses and building value. AVP's current investments include Nativo, Curology and Above Average, and the firm's principals have been investors in and served on the boards of successful growth companies such as Farfetch, Newsle (acquired by LinkedIn), PowerPlan, Rent the Runway, and Vestiaire Collective. For more information, please visit www.avpgrowth.com.
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