Investment in the wonder services space continues to heat up, with Skin Pharm, an aesthetic skincare practice that has its own product line, receiving a minority investment from Prelude Growth Partners.

The $15 million investment from the female-founded growth equity firm will fund the corporate’s clinic expansion plans nationwide and contribute to ongoing product development, each parties said in an announcement.

As a part of the deal, chief executive officer Maegan Griffin, a board-certified nurse practitioner with cosmetic surgery and dermatology experience who founded Skin Pharm in 2017, will proceed to guide the corporate.

“Now’s the right time to take this investment because we now have this amazing team, we built a trustworthy brand, and we now have a loyal community of consumers who’re wanting to grow with us,” Griffin told WWD in an interview. “Now, we all know that we will grow at a more rapid rate with this capital, while being mindful of maintaining the culture and the standard of care that Skin Pharm has been known for.”

Skin Pharm has five clinics in Nashville and Franklin, Tennessee; Atlanta; Charlotte, North Carolina; and Dallas, with Alpharetta, Georgia; and Houston slated to open in the approaching months.

Available services include injectables, micro needling, laser treatments and chemical peels.

The business also has its own skincare line, launched in 2018, which now has close to twenty products, including Crystal Clear Clarifying Pads, $50, Youth Serum, $115, and Glow Factor, $150. Griffin plans to proceed to expand its product offering. The road is sold in clinics and on Skin Pharm’s website.

Of its investment, Neda Daneshzadeh, cofounder and managing partner of Prelude Growth, said: “Skin Pharm has created a uniquely differentiated, trusted brand with a top quality of experience and loyalty which is unrivaled within the industry. We see long-term secular growth on this category driven by consumers looking for efficacy and results. We look ahead to working closely along with Maegan and her team as they execute on their strategic growth plan.”

Prelude also has investments in Summer Fridays, Westman Atelier, Blueland and The Center, amongst other brands. In 2021, Sol de Janeiro, which the firm backed, was acquired by L’Occitane at a $450 million valuation.

Investment in the wonder service space has been increasing over the past couple of years.

Amongst among the deals, millennial med spa Ever/Body, which offers laser facials, Botox, HydraFacial, fillers and laser hair removal, raised a $38 million series B from a combination of investors including Tiger Global Management, Addition and Fifth Wall, and later a $55.5 million series C funding. Last 12 months, Upkeep, an app that enables users to seek out, book and pay for med spa treatments, secured $2 million in seed funding, and most recently, private equity firm KKR took a “notable” minority stake in SkinSpirit, the biggest provider of Botox and filler within the country.

“There’s just more information on the market that these treatments might be tastefully done,” said Griffin of the rising popularity of a few of these services. “Cosmetic treatments have been around for a very long time. But, thankfully, and I feel as a result of social media, you’re capable of find like yourself in a provider, right? You’re like, ‘OK, I like that person’s aesthetic. I can see myself trusting them.’ It’s a extremely exciting industry right away. I don’t really see it slowing down.”