LA-based Upkeep secured $2 million in seed funding to accelerate growth and expand to new markets.

WHO: Tiffany Faith Demers founded Upkeep to revolutionize the $113 billion cosmetic healthcare industry. Upkeep is a marketplace for med spa providers that puts the power into the consumers' hands, allowing them to discover vetted providers, see availability, book appointments, and pay for services in just a few clicks. For providers, Upkeep brings in new consumers, increasing revenue, along with a proprietary suite of account and user management tools and a performance-monitoring metrics dashboard.

WHY: This investment will help accelerate growth and further Upkeep's mission to modernize the medical aesthetics experience for customers and providers.

IN THEIR OWN WORDS: "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."

"Our mission is to become the go-to booking platform for all cosmetic dermatology and medical aesthetic procedure," said Tiffany Faith Demers, Founder & CEO of Upkeep. "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."

DETAILS:

• Upkeep closed $2 million in seed funding. The round was co-led by the Anthemis Female Innovators Lab Fund, and 1517 Fund, along with angel investors, including Coco Meers.
• To date, 80% of Upkeep's users have returned to the app to book again.
• In under a year, Upkeep launched in Los Angeles, Orange County, San Diego, Miami, Palm Beach, and New York City while building a waitlist 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 treatment packages.
• Upkeep understands that payments and financing are another essential element of the MedSpa experience that is long overdue for an update. Upkeep recently introduced flexible financing options directly in their app to eliminate this friction point. This service will help meet demands of Gen Z consumers who are exploring cosmetic dermatology at a younger age, and will provide greater accessibility for these procedures. 
• Fintech innovation will continue to be a key priority for Upkeep as the brand grows and they seek to increase convenience and flexibility for their consumers at all touchpoints.