MedSpa Marketplace Upkeep Completes Seed Funding Round
Upkeep, an app that allows users to find, book, and pay for MedSpa treatments such as facials, botox, filler and laser hair removal, has secured $2 million in seed funding.
The round was co-led by The Anthemis Female Innovators Lab Fund and 1517 Fund, which were early Loom and Figma backers, along with angel investors including Coco Meers.
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Of its investment, Katie Palencsar, managing director and global head of venture studio at Anthemis, said: “The cosmetic health care category is growing exponentially, as stigmas around these treatments are broken down and younger generations become increasingly transparent about all elements of their wellness routines. Upkeep is digitizing the category as a whole to provide the access and convenience these users expect, and their rapid growth is a testament to that demand.”
Since its launch last year, Upkeep has debuted its service in Los Angeles, Orange County and San Diego, California; Miami and Palm Beach, Florida, and New York City, New York, while building a wait list of more than 20,000 users, according to a spokesperson. It plans to utilize this funding to launch in six new markets by the end of 2022.
Chief executive officer Tiffany Faith Demers said: “Our mission is to become the go-to booking platform for all cosmetic dermatology and medical aesthetic procedures. By designing an app with quality, curation and convenience at the forefront we can serve both customers and providers equally, generating additional business for participating MedSpas and empowering consumers to book treatments that best suit them.”
The marketplace has an application segment for MedSpas on its site and Demers said this is how most spas are joining the app, although she added that the majority of applications are rejected as the approach is quality over quantity. It’s free for MedSpas to join, but Upkeep takes a marketing fee per treatment.