PARIS — Innerskin aesthetic clinic has raised 5 million euros to help accelerate its growth.
The fundraising was led by Label Capital — which was founded by Véronique Morali, Eléonore Oudea and Gaspard de Sarnez — alongside strategic co-investors, including CF Partners, the Carle family office and existing investors.
Chrystelle Eid identified a white space, then launched Innerskin in 2022.
“Aesthetic medicine is a booming market, and there’s a huge unfulfilled demand,” said the executive, who formerly worked in finance. “I saw how consumers are increasingly looking for technology-based services, and there’s not much offering in Europe.”
What there is generally lags behind the offer in the U.S. and Asia.
Eid’s parents are both aesthetic doctors. “So I knew the market very well,” she said.
Eid set out to establish her clinics with best-in-class tech, such as laser and radio frequency.
“What we’re doing is making these aspirational technologies available to everyone,” she said. “We are medically endorsed, and that’s really what people want today.”
Eid was the draw for Label Capital.
“Chrystelle is really one of the top entrepreneurs we’ve seen in this consumer [space],” said Oudea, explaining she has expertise in both finance and the business of aesthetic clinics. “This is the main [reason] why we are investing in Innerskin — it’s her.”
Eid said she chose the name Innerskin because “with the medical devices that we have, we can really go deep in the skin.”
The clinic’s clients generally range in age from 25 to 60. People there are given a treatment plan. “It’s never a one shot,” said Eid.
Innerskin’s first opening took place in September 2022. Fast-forward to today, and it has nine locations in France, including four clinics in the Paris region measuring around 540 square feet each, locations in hotels in the likes of Saint-Tropez and Courchevel, and in Galeries Lafayette department store. Innerskin clinics are accessible from the high street.
The new funds will be used to step up the company’s development pace even more. In France, Innerskin is expected to have six clinics by year-end, then open one clinic every six weeks in order to finish 2024 with 15 to 18 clinics. Expansion abroad could begin in 2025.
“The ambition with Innerskin is to become the leader in the European market,” said de Sarnez.
This marks the second funding round for the aesthetic clinic, which last year raised 3 million euros.
Label Capital is a consumer fund investing mostly in European entrepreneurs in their first phase of development, who want to accelerate and expand business.
“We’re trying to be the first institutional investor to support them,” said Oudea.
Label Capital invests between 2 million euros and 5 million euros. Outside of Europe, it plans to be a co-investor, along with local partners or funds.
Label Capital, dedicated to wellness as a whole, has three main sectors of investment, with the main focus on consumer health care.
“Innerskin is very illustrative of our thesis, because we’ll try to find newcomers in the health care space both from existing offers but with a premium side and with a differentiator in the dental market, the optical market and the vet market, for example,” said Oudea.
Label Capital’s second investment, after Innerskin, was in Paris Dental Studios.
Also on the firm’s health care radar are companies that play into longevity, mental health, and integrative and preventive medicine trends.
“One important thing for us is what we call the ‘consumerization of health care,’” said de Sarnez, explaining that the focus is on health care players building brands around service, quality and experience, “which is a very new trend, at least in Europe.”
Label Capital’s second focus is beauty — both services and products.
“Innerskin is also super illustrative of that, with a network of clinics with a huge amount put on services and quality,” said Oudea. “We are looking at skin care, hair care and personal care products, as well.”
Label Capital’s third portfolio focus is on food and beverage, involving services and products with eco-friendly attributes that could disrupt a market.
“The line is getting blurrier between all these sectors to form basically one big wellness offering, and Innerskin is a super example of this,” said de Sarnez. “It is health care, in a way. It is managed by health care practitioners, but it is consumed as a beauty service.
“It is a flagship deal in terms of what we want to do,” he said.