The company will set up additional stationary locations in the next few years
Cosmetic dermatology is a fairly new space that has only really grown in importance in the last 15 years. As the name suggests, these are not patients with a medical need, but rather patients who want to improve their experience. it includes treatments for Smoothing of wrinkles, correction of skin tone and texture and firming of sagging skin.
Due to the fact that it is so nascent it has not seen the same type of technology built into other areas of the healthcare ecosystem. This is what Ever / Body looks for in the change: tThe company that was founded in 2019 using technology to deliver a personalized experience to every patient.
“The company was founded with the idea of revolutionizing cosmetic dermatology, with an experience that was technology-driven, really new to the industry, was highly personalized, and focused on patient education and natural-looking results,” said Ever / Body CEO Amy Shecter told me.
“We really focus on personalized treatment plans. Very often you go in and it’s a one-stop approach and we give each and every person their own treatment plan based on the needs they have.”
This approach has caught on with investors: On Tuesday, Ever / Body announced a $ 38 million Series B funding round, made up of both venture capital and debt. It was led by Tiger Global Management along with Addition, Fifth Wall, MetaProp and Gaingels and existing investors including Declaration Partners, ACME Capital and Redesign Health, bringing the company’s total capital to $ 52 million.
“The fact that Addition and Fifth Wall, as well as Metaprop and Gaingels were included in this round, speaks to the fact that this is a high growth company with great development that scales both stationary and digitally and in some way is resonating It’s really exciting, we’re designing a new space the way we do, and we’re really excited about it, “Shecter said.
2019 New York-based Ever / Body offers Treatments including microneedling, laser facials, photofacials, scrubs, botox, wrinkle relaxants, derma fillers, plasma injections, and plasma hair restoration, among others. On the technology side, the platform that offers customers online booking and planning, medical records and progress tracking.
The company currently operates two personal clinics in New York City. one in the Flatiron District and the other in SoHo. While The age of the customers can be between 18 and 70 years. Ever / Body’s main customers are typically between 30 and 55 years old. While it is mostly women, the company has also seen the number of men grow by 50% year over year.
Part of it has to do with the company treating the whole body, not just the face, Shecter explained: Many men get emsculpt, which is a stimulation of the muscles, especially in the abdomen, that helps them turn six. Pack abs.
“More and more men are being destigmatized by coming to us to use these services. And it’s interesting that our men are between 20 and 70 years old. So we see young men, we see middle-aged men, and we see see older men come for a wrinkle relaxant or a bit of filler, and we’re so happy to get this client, “she said.
“Our environment has been purposely designed to be very inclusive for every type of person. It looks accessible. It is a combination of a doctor’s office and medical spa, making it the perfect solution for making everyone around us comfortable . ” Environment. It’s a place that offers privacy but also convenience. “
Since Ever / Body is primarily a stationary company, the company had to close during the pandemic, although it reopened last August. During that time, the company focused on a few key areas, one of which was improving existing hospitality services and the other was focusing on its technology, particularly the introduction of virtual services, including telemedicine, which still exist today a small but growing part of his business.
“In the middle of the pandemic, we introduced virtual services and they are increasing significantly. Ultimately, however, we are a stationary company, we want to build a multi-channel business, we now operate telemedicine and we hold virtual appointments so that we can serve the customer via a virtual counseling service and can very often drive them to the store for this service. However, we are seeing a world in which telemedicine is becoming a larger part of our business. And we are seeing a world here where we look after customers even more holistically, “said Shecter.
Every month since the company reopened has been its best month, and it chalked up in part with the surge in Zoom calls.
“Everyone looks at each other with more critical eyes every day than ever and for this reason people are trying to make changes. The good thing about all of our services is that they look natural. It’s a progressive look. You can do it step by step, and you can rate and rate and then do something more or something else if you so choose. “
The new funding will serve to further expand Ever / Body’s technology and customer experience while investing in new services to expand the current treatment menu. It will also head towards market expansion, with the company planning to open several new brick and mortar locations. it plans to have five to seven additional locations in the next few years and 20 locations in the next five years.
Ever / Body will also launch a range of branded prescription dermatology products targeting conditions such as acne, hyperpigmentation, wrinkle reduction, rosacea and hair growth, which will be sold on both its website and in stores.
“This is where the telehealth opportunity comes into play when the customer has a specific problem and doesn’t want to get into a store or doesn’t live in an area where our stores are currently in virtual service and it takes our business to a completely different level “It’s really a multi-channel business then,” said Shecter.
The cosmetic dermatology space is young but growing fast: it will be by 2028 is expected to grow to $ 125 billion, partly due to the pandemic, partly due to the increased focus on health and wellbeing, and the fact that the treatment is non-invasive. That means that a company like Ever / Body has a tremendous chance of gaining market share.
Shecter compares it to where the boutique fitness area was 10 years ago when it just launched; Now there are many options. The same goes for cosmetic dermatology.
“I really think we’re going to find ourselves in a similar situation. Telemedicine is taking off, this type of service is going to go through an incredible evolution and I think we are well placed to grasp this,” Shecter said.
It also helps, she explained, that other companies in space aren’t using technology in the same way Ever / Body does.
“While there are competitors in this area, no one has approached it like us. Our technology becomes even more integrated as we grow as we expand and grow with our customers. So everyone who does cosmetic derm, I think, is taking market share one, but it’s unique to do this with a technology-first business, “she said.