Skin + Me, a London-based skintech startup transforming personalised skin care has raised £10 million in a Series B round of funding investment from Octopus Ventures ( European venture capital investor based in London and New York that also backed Intigriti and Delio recently).
The funds will help the teledermatology service to accelerate growth via continued innovations in personalised skincare and new marketing channels.
With 24% of the UK population seeking treatment for skin issues each year, and only 626 Consultant Dermatologists registered in the UK, in 2018, the founders — James Mishreki and Horatio Cary realised there was a huge problem in the world of skincare — people don’t just struggle with their skin – they struggle with how they’re supposed to deal with it.
Due to the lack of solutions available, the team knew there had to be a better way. And thus born the virtual dermatologist Skin + Me in 2020 at the peak of the COVID-19 pandemic.
“Our mission was to create a game-changing, personalised skincare brand to democratise dermatology. I’ve now moved on to my next D2C venture and I’m delighted the team is doing such a good job delivering that vision to hundreds of thousands of people,” said James Mishreki, Founder of Skin + Me & Life Supplies.
Offering custom skin-care treatments
Skin + Me offers custom-make treatments, formulated with prescription-only active ingredients for customers looking to tackle skin conditions such as acne, rosacea, dark spots, pigmentation, or skin concerns like visible pores, fine lines, or texture.
According to the UK startup, treatment pathways are designed by Consultant Dermatologists and formulated by Pharmacist Prescribers in unique concentrations, personalised for customers based on their medical history, to deliver exactly what each individual’s skin needs.
The active ingredients prescribed in formulations include
- Azelaic Acid
In its first two years of operation, Skin + Me states that it has prescribed millions of products to help hundreds of thousands of customers achieve their skin goals.
Treatment options vary across formulations that deliver a wide variety of results from making pores less visible, to clearing acne, reducing fine lines, and more.
Skin + Me says its supplementary cosmetic moisturisers and cleansers, launched in 2022, saw over 50% customer uptake.
The UK company has also patented Daily Doser, a metered dispenser developed and built in-house to deliver the exact dose of personalised solution for the customer’s nightly application.
The personalised formulation inside the Doser is custom-made for each individual at Skin + Me’s compounding pharmacy.
Will Gibbs, Partner, Health, Octopus Ventures says, “Octopus Ventures takes pride in backing companies that incite positive and actionable change. Increased awareness of prescription ingredients and a growing trend towards personalisation have transformed the skincare market. Skin + Me lead the charge with its 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.”