Colorescience® Announces Successful Completion of $15 Million Series C Preferred Stock Financing
Further Bolsters Female Representation on Board of Directors
CARLSBAD, CA -- August 1, 2017 -- Colorescience®, the leading dermatologist-recommended skin health cosmetics company, today announced the successful completion of a $15 Million Series C Preferred Stock financing led by 1315 Capital, L.P., a Philadelphia-based healthcare investment firm that specializes in providing expansion and growth capital to specialty pharmaceutical, medical technology, and healthcare services companies.
With the investment, Adele Oliva, Founding Partner at 1315 Capital, joins the Colorescience Board of Directors. “We are thrilled to be working with the team at Colorescience to support the growth of their products given their focus on skin health and protection. Skin is the body's largest organ and the Colorescience products provide one of the highest quality solutions for medical professionals and consumers."
Under the leadership of CEO Mary Fisher, Colorescience has created a robust portfolio of clinically-tested products that blur the lines between skincare and cosmetics while protecting skin against UV exposure and environmental aggressors. Colorescience has an impressive collection of award-winning products, including Even Up® Clinical Pigment Perfector® and Sunforgettable® Brush-on Sunscreen SPF 50, winner of the coveted InStyle Best Beauty Buy for “Best Touch up Sunscreen” for three consecutive years.
“This investment comes at an important inflection point in our growth at Colorescience and allows us to further invest in innovation and firmly establish our sales and marketing leadership in the aesthetics and beauty industry,” says Fisher. “We are particularly pleased to partner with 1315 Capital given their team’s long and proven track record of backing successful high-growth healthcare companies.” Adele Oliva joins Mary Fisher, M Bolyard (Former SVP, ULTA Beauty), Nicky Kinnaird (Founder, Space NK), Josh Baltzell (Split Rock Partners & Sightline Healthcare Opportunity Fund), and Dr. Michelle Dipp (Longwood Fund) on the Board of Directors. Other investors in the Series C Round included: Healthcare Ventures, Greenspring Global Partners, and Montreux Equity Partners.
About 1315 Capital
1315 Capital provides expansion and growth capital to commercial-stage specialty pharmaceutical, medical technology, and healthcare services companies. 1315 Capital leverages experienced investors and proven operating teams to work alongside portfolio company management to rapidly grow platform companies into high value businesses that positively impact patients, physicians, and the broader healthcare system. For more information, visit www.1315capital.com.
For over 12 years Colorescience has been blurring the lines between makeup and skincare to bring immediate beauty today while improving and protecting skin for tomorrow. Originally crafted for the most vulnerable post-procedure skin, Colorescience is trusted, recommended, and personally used by thousands of physicians. Using only substantiated ingredients in their purest form, and including them at therapeutic and dermatologist-approved levels for maximum efficacy and performance, Colorescience products have already improved millions of lives with 365-day protection from UV rays and environmental stressors. The brand’s uncompromising, health-forward approach to formulations provides confidence and reassurance to women of all ages, skin types and concerns. They understand the demands women face every day and realize the needs of today's consumer: ease, health, and beauty. Colorescience is changing the way women perceive beautiful skin; because beautiful isn’t just the prettiest—it’s the healthiest.
Colorescience products are designed to easily fit into day-to-day life and are available through a network of licensed physicians, colorescience.com, and a collection of prestige retailers. For more information, visit www.colorescience.com.
For more information and samples, please contact:
Behrman Communications, 212.986.7000
Amanda Youssef, AYoussef@BehrmanPR.com