Based in the UK, Skin + Me is shaking up skincare, making medical-level advice more accessible and empowering skin confidence. The startup has just secured new funding (£10 million) as demand ramps up.
For many, skincare can create a bit of a headache. From knowing which products work and which don’t, to being able to affordably access quality solutions, lots of consumers are left struggling with the world of skincare. It’s something that impacts people’s self-esteem and confidence, but access to dermatologically-backed products just isn’t so accessible.
Aiming to change this, by taking a more consumer-friendly prescription-based and personalised approach to skincare, is Skin + Me. The startup’s platform has been picking up in popularity, and now, it’s closed new funding to keep growing.
- Over €11 million (£10 million) was raised in a Series B funding round
- The investment was led by Octopus Ventures
- This comes as the company reports growth of 100% year on year to become cash generative in just two years.
Launched in 2020, Skin + Me has developed an impact-driven teledermatology service. The startup offers custom-made treatments formulated with prescription-only active ingredients for customers looking to tackle skin conditions such as acne, rosacea, dark spots and pigmentation, or skin concerns like visible pores, fine lines or texture.
Users simply fill out a questionnaire on the online platform and can then subscribe to a personalised skincare plan. Treatment pathways are designed by Consultant Dermatologists and formulated by Pharmacist Prescribers.
It’s reported that 24% of the UK population seek treatments for skin issues each year – and they’re not getting the help they need.
Horatio Cary, Co-Founder and CEO of Skin + Me: “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. Loyalty and customer love for our products followed because they deliver results.”
Skin + Me has found, in a brand survey, that customers note a 133% improvement in their skin with an average baseline rating of 3/10 pre-treatment rising to 7/10 after 12 weeks of using the product. So far, the company has prescribed products to hundreds of thousands of UK-based consumers – helping people feel more confident.
Horatio Cary: “We’ve seen consumer awareness for prescription-only ingredients such as tretinoin grow exponentially. 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: “Octopus Ventures takes pride in backing companies that incite positive and actionable change. Increased awareness in prescription ingredients and a growing trend towards personalisation has transformed the skincare market. Skin + Me lead the charge with their accelerated growth reflecting a step change that’s seen hyper-educated consumers shun off-the-shelf products in favour of highly efficacious solutions. Across Series A and Series B funding, Octopus Ventures has invested a total of £13m to develop Skin + Me — deepening the relationship, and demonstrating their faith in the brand’s market-leading personalisation strategy.”
These new funds will be used by the medtech team to accelerate growth via continued innovations in personalised skincare and new marketing channels.