Tria Beauty creates laser and light-based skin care products, with its Hair Removal Laser being the first and only FDA-cleared hair removal system available for at-home use.
Thanks to the latest round of equity financing, led by Bay City Capital, and joined by new investors, AmorePacific Ventures and Athyrium Capital Management, Tria can now launch multiple new laser devices for skin care, and also allows the company to selectively expand distribution and accelerate its growth and operating plans.
The US firm’s initial investors include Aisling Capital, DeNovo Ventures, Morgan Stanley Alternative Investment Partners, Vivo Ventures and Technology Partners.
Developments
"This new financing reflects investor confidence and support of the company, our breakthrough skin care products built upon a proprietary portfolio of medical laser technologies, and our team's ability to build the Tria brand and drive consumer adoption and advocacy," says Kevin Appelbaum, CEO of Tria Beauty.
"In less than five years and in the midst of a troubled economy, Tria has grown from a nascent start-up generating its first revenues to the world's largest marketer of medical lasers for treating multiple skin care concerns,” he adds, stating that the financing provides Tria with capital needed to continue its development.
Debt facility
Tria Beauty also announced the completion of an up to $45 million structured lending facility provided by Athyrium Capital.
This new debt facility refinances existing debt and provides incremental, non-dilutive capital to the company, with Wedbush Securities acting as strategic advisor to the company in the debt refinancing.
"We have been investors in innovative companies bringing disruptive medical technologies and services to the market for some time. We see in Tria a unique combination of best-in-class technology, superior product design and a management team capable of scaling Tria into a dominant, global skincare brand," says Dick Pines, Partner, Athyrium Capital Management.