Upkeep announced it secured $2 million in Seed funding. The round was co-led by The Anthemis Female Innovators Lab Fund, and 1517 Fund (early Loom and Figma backers), as well as angel investors Coco Meers. This investment will further Upkeep's mission to modernize the medical aesthetics experiences for both customers and providers.
Digital Marketplace for MedSpas
The marketplace for medspa providers was founded by CEO, Tiffany Faith Demers. For providers, Upkeep brings in new consumers and expands their reach to grow revenue. 80% of Upkeep's users have returned to the app to book again, and they have also created a suite of account and user management tools, and a performance monitoring metrics dashboard for provider partners.
“The cosmetic healthcare 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,” said Katie Palencsar, managing director and global head of Venture Studio at Anthemis. “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.”
Upkeep has debuted their service in Los Angeles, Orange County, San Diego, Miami, Palm Beach, and New York City, while building a wait list of over 20,000 users. The brand plans to utilize this funding to launch in six new markets by the end of 2022, leveraging data from their waitlist and the industry at large to guide the expansion strategy. The brand is also focused on growing their offerings with adjacent categories and customized treatments packages.
The platform also recently launched flexible financing options directly in their app to make financing treatments easier for the younger generation of medspa customers. Fintech innovation will continue to be a priority for the brand as they grow.