Millennial Med-Spa Ever/Body Raises $38 Million
Millennial med-spa Ever/Body has raised a $38 million Series B with plans to expand.
Ever/Body was launched by former Clinique executive Kate Twist as an alternative to traditional Upper East Side cosmetic dermatology offices. The business offers laser facials, Botox, HydraFacial, fillers and laser hair removal. Appointments can be booked online, and the business offers virtual consultations.
Ever/Body raised the funds, which include equity and debt, from Tiger Global Management, Addition, Fifth Wall, MetaProp and Gaingels. Declaration Partners, Acme Capital and Redesign Health are also invested in the business. So far, Ever/Body has raised $52 million.
The capital will be used to open more locations in New York and gradually around the East Coast, said chief executive officer Amy Shecter. The business will also launch a product line later this year and expand its treatment menu.
Despite the coronavirus pandemic, Ever/Body said it saw increased patient retention and quarterly patient spend over the past year at its two New York locations.
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“Once we reopened, we saw there was great demand for the product,” Shecter said. “Each month has been better than the last.”
Ever/Body has seen a 94 percent increase in first-time consultations, a triple-digit increase in Botox clients and a 50 percent uptick in male customers, Shecter said.
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“I think that goes back to the Zoom boom…people are looking at themselves so much more in a way they didn’t have to a year ago, or a year and a half ago,” Shecter said of Botox. “We are actually now driving the male consumer — we are spending growth marketing dollars on acquiring the male consumer, and they are showing up.”
Ever/Body’s core customer is between 30 and 50 years old, Shecter said, and people have been interested in a wide range of services, including facials and laser hair removal.
Ever/Body is the latest cosmetic dermatology offering to attract investor interest. TPG Growth recently invested in Ideal Image, a chain that offers Botox and other services.
Shecter said she felt like a high-profile investor coming in — like Tiger — spoke to the opportunity in cosmetic dermatology offerings. “When we were first going out to raise there was an incredible amount of interest,” she said. “It’s like the new boutique fitness.”
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