- Sisu, a new chain of beauty clinics founded out of Ireland, has raised $5.5 million in Series A VC funding from Greycroft and Bullpen Capital.
- Sisu’s clinics offer Botox, anti-wrinkle injections, and teeth whitening, and other aesthetic procedures.
- “People are increasingly getting procedures done not for vanity but because they want to change subtle features,” Sisu cofounder Dr Brian Cotter told Business Insider in an interview.
- Visit Business Insider’s homepage for more stories.
Beauty disruptor Sisu has raised $5.5 million in Series A funding from Greycroft and Bullpen Capital.
Sisu, founded out of Ireland, is a chain of beauty clinics that offers aesthetic procedures such as Botox, anti-wrinkle injections, and teeth whitening.
Despite its clinics closing during the main months of the coronavirus pandemic, Sisu is confident that it can succeed in a market which is set to be worth $15.9 billion by 2025, per Markets and Markets.
“People are increasingly getting procedures done not for vanity but because they want to change subtle features,” Sisu cofounder Dr Brian Cotter said. “Currently the market for aesthetics is confused by single doctor clinics, we want to create a brand that people connect with.”
The company’s fundraising was slowed by the coronavirus pandemic with cofounders and brothers James and Brian Cotter going back to frontline medical services to help battle COVID-19 in their native Ireland. The process of getting the funding over the line was led by cofounder Pat Phelan, a serial entrepreneur who previously sold a fraud detection software startup.
“It was super difficult to fund,” Phelan said. “We were on the road for 18 months before getting Greycroft to lead in the middle of the pandemic. At the time they said to me, ‘We’ve never invested in a company that’s closed before!’ but since then demand has returned and we’ve demonstrated strong growth.”
Greycroft has previously backed Gwyneth Paltrow’s beauty venture Goop.
Founded in late 2018, Sisu claims to have 300% annual growth and will use the funding round to add to its eight clinics in Ireland by opening 20 clinics in the US in the next 18 to 24 months and add to the company’s executive team.
Check out Sisu’s pitch deck below: