The dermatology practice industry in the US focuses on skin health, addressing various skin conditions and cosmetic concerns. It features practices ranging from individual dermatologists to larger clinics, offering services like medical treatments and cosmetic procedures. With a growing consciousness about skin health and self-care, this industry is rapidly evolving, integrating technology such as telemedicine and AI-driven diagnostics. Increasing demand for dermatological interventions and innovations in skincare signify a promising future. The market is expected to expand further with a rising population and advances in treatment methodology, appealing to a wider audience seeking skin solutions.

In 2024, a mix of venture capital and private equity investors focused heavily on dermatology practice growth within the US. Firms like KKR and Goldman Sachs, headquartered in New York, reflect the high stakes of this market, while more specialized firms, like General Catalyst from San Francisco, target emerging tech solutions. The average size of these firms ranges widely, with some managing thousands in staff. In total, 13 investors participated in over 1,500 deals last year, signaling a robust interest in shaping future ventures in dermatology.

Top 13 Dermatology Practice Investors in the US

1. Y Combinator

• Website: ycombinator.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2005
• Headcount: 51-200
• Number of deals in 2024: 802
• LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Y Combinator has successfully launched over 4,000 startups, establishing itself as a key player in the technology startup ecosystem. Notably, Y Combinator has invested in Clinikally, a Gurugram-based startup that operates a digital clinic for skin and hair care, raising $2.6 million in a financing round in September 2023, and previously in a $500,000 pre-seed round in July 2022. Additionally, they have shown interest in CureSkin, an AI-driven beauty and personal care startup, which indicates their engagement in the dermatology and skincare sectors. These transactions highlight Y Combinator's active role in funding innovative solutions within the dermatology practice context.

2. StartUp Health

• Website: startuphealth.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 2011
• Headcount: 11-50
• LinkedIn: startuphealth

StartUp Health is a not-for-profit organization based in New York, focused on health innovation and supporting health entrepreneurs and startups through its Health Moonshot Communities. Founded in 2011, StartUp Health provides resources, networking opportunities, and media content aimed at addressing significant health challenges. They have been involved in several relevant transactions in the dermatology space, including investments in Dermio, a company that raised funds in 2015, Lindi Skin, which focuses on skincare for cancer patients and raised funds in 2012, and SnapDx, which raised funds in 2014. These investments highlight StartUp Health's commitment to advancing health technology and innovation, particularly in dermatology-related ventures.

3. Deep Tech Fund (an Alumni Ventures Fund)

• Website: av.vc
• Type: Venture Capital
• Headquarters: Manchester, New Hampshire, United States (USA)
• Founded year: 2023
• Headcount: 51-200
• Number of deals in 2024: 258
• LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been involved in several notable transactions, including Piction Health, which raised $6 million in a Seed Round in January 2024 and focuses on dermatological conditions. Additionally, the fund participated in investments in healthtech companies like Nurx, which raised $52 million in Series C funding, providing personalized care for sensitive health needs. These transactions highlight the fund's engagement in the health sector, particularly in areas that intersect with dermatology.

4. Sosv

• Website: sosv.com
• Type: Venture Capital
• Headquarters: United States (USA)
• Founded year: 1995
• Headcount: 51-200
• Number of deals in 2024: 170
• LinkedIn: sosv

Sosv is a venture capital firm founded in 1995, based in the United States, that specializes in funding and supporting deep tech startups through its development programs. With a focus on health and climate technology, Sosv provides venture capital investment and resources to help startups grow and succeed. Among their notable transactions, they have invested in Cybele Microbiome, which raised funds through multiple rounds, including a seed round and convertible notes, indicating a strong interest in microbiome research that has implications for dermatology. Additionally, they invested in Glowbiotics, a company that focuses on skincare and probiotics, further emphasizing their engagement in the dermatology space. In 2024 alone, Sosv has made 170 investments, showcasing their active role in the venture capital landscape.

5. MedTech Innovator

• Website: medtechinnovator.org
• Type: Corporate
• Headquarters: Los Angeles, California, United States (USA)
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 85
• LinkedIn: medtech-innovator

MedTech Innovator is a not-for-profit organization based in Los Angeles, California, founded in 2013. It serves as the largest accelerator for medical technology companies, providing accelerator programs, mentorship, and competitions to support startups in the medical device, digital health, and diagnostics sectors. Among their notable transactions, they have supported companies like DermaSensor, which focuses on skin health diagnostics, and Enspectra Health, which also has implications for dermatological applications. Their funding activities, including grants and non-equity assistance, demonstrate their commitment to fostering innovation in healthcare, including dermatology-related technologies.

6. New Enterprise Associates (NEA)

• Website: nea.com
• Type: Venture Capital
• Headquarters: Menlo Park, California, United States (USA)
• Founded year: 1977
• Headcount: 51-200
• Number of deals in 2024: 57
• LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a prominent venture capital firm based in Menlo Park, California, founded in 1977. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. Notably, NEA has been involved in significant transactions within the dermatology context, such as leading Series C funding for Ulthera, a company focused on non-invasive skin treatments, and participating in earlier funding rounds for the same company. Additionally, NEA led a Series A funding round for Evernow, which, while primarily focused on women's health, may intersect with dermatological applications. These investments highlight NEA's active role in the healthcare landscape, particularly in areas relevant to dermatology.

7. Gaingels

• Website: gaingels.com
• Type: Venture Capital
• Headquarters: Burlington, Vermont, United States (USA)
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 60
• LinkedIn: gaingels

Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm provides capital and support to startups, particularly those led by underrepresented groups, to foster diversity and inclusion in the innovation economy. Gaingels has been involved in several relevant transactions in the dermatology practice context, including a $38 million Series B funding round for Ever/Body, a company focused on aesthetic dermatology, and a $5.5 million Series A round for SISU Aesthetic Clinic, which specializes in cosmetic treatments. These investments highlight Gaingels' commitment to supporting innovative companies in the dermatology and aesthetic treatment sectors, alongside their broader mission of enhancing board diversity and supporting diverse leadership in the startup ecosystem.

8. General Catalyst

• Website: generalcatalyst.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2000
• Headcount: 51-200
• Number of deals in 2024: 144
• LinkedIn: general-catalyst-partners

General Catalyst is a venture capital firm founded in 2000, based in San Francisco, California. The firm specializes in early-stage and growth investments, providing capital and strategic guidance to startups across various industries, including technology and healthcare. Notably, General Catalyst has participated in significant funding rounds for companies like Zerigo Health, a connected skin therapy company, which raised $43 million in a Series B round, indicating their interest in dermatology-related innovations. They have also invested in Sesame, a direct-pay healthcare marketplace, which, while not exclusively focused on dermatology, operates within the healthcare sector and has implications for dermatology practices. Their investment in Neko Health, which raised $260 million, further emphasizes their commitment to healthcare advancements, potentially including dermatological applications.

9. OrbiMed

• Website: orbimed.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 1989
• Headcount: 51-200
• Number of deals in 2024: 52
• LinkedIn: orbimed-advisors

OrbiMed is a prominent investment firm based in New York, specializing in healthcare investments. Founded in 1989, the firm manages approximately $17 billion in assets across various investment strategies, focusing on biopharmaceuticals, medical devices, and healthcare services. Notably, OrbiMed has participated in significant funding rounds for companies like Arcutis Biotherapeutics, which raised substantial capital to develop treatments for dermatological conditions such as plaque psoriasis and atopic dermatitis. Their involvement in these transactions highlights their commitment to advancing innovations in dermatology, alongside their broader healthcare investment portfolio.

10. Goldman Sachs

• Website: goldmansachs.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1998
• Headcount: 10001+
• Number of deals in 2024: 59
• LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, founded in 1998. It provides a comprehensive range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the context of dermatology, Goldman Sachs has participated in notable transactions such as the Series C financing for Arcutis Biotherapeutics, which raised $94.5 million to support the clinical development of treatments for plaque psoriasis and atopic dermatitis. Additionally, they have been involved in funding rounds for other healthcare-related companies, showcasing their active role in the healthcare investment landscape, including dermatology.

11. Goodwater Capital

• Website: goodwatercap.com
• Type: Venture Capital
• Headquarters: Burlingame, California, United States (USA)
• Founded year: 2014
• Headcount: 51-200
• Number of deals in 2024: 41
• LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater Capital focuses on various sectors, including healthcare and financial services, with an aim to improve access to technology solutions for underserved communities. Notably, they have participated in several transactions relevant to the dermatology practice context, such as their investments in Clinikally, a digital clinic for skin and hair care, which raised $2.6 million in September 2023, and an earlier seed round in the same company in August 2022. Additionally, they have invested in Uncover Skincare, a startup focused on skincare solutions in Kenya, further demonstrating their engagement in the dermatology space.

12. Silicon Valley Bank

• Website: svb.com
• Type: Venture Capital
• Headquarters: Santa Clara, California, United States (USA)
• Founded year: 1983
• Headcount: 5001-10000
• Number of deals in 2024: 31
• LinkedIn: silicon-valley-bank

Silicon Valley Bank is a commercial bank founded in 1983, specializing in providing financial services to the innovation economy, particularly tech startups and venture capital firms. They offer a range of products including business banking, global payments, and asset management, helping clients navigate financial challenges and support their growth. Notably, Silicon Valley Bank has been involved in several significant transactions within the dermatology practice context, including a $5 million Series 1a financing for Dermata Therapeutics in 2017, and multiple debt financing rounds for Thermi, totaling $11 million in 2015. Additionally, they provided substantial debt financing to Castle Biosciences, a company focused on dermatological diagnostics, raising $34 million across two rounds in 2016 and 2017. These transactions highlight their active role in supporting companies that are directly related to dermatology, reinforcing their position as a relevant investor in this field.

13. Kkr

• Website: kkr.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1976
• Headcount: 1001-5000
• Number of deals in 2024: 74
• LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR provides asset management solutions to both institutional investors and individual clients, helping them navigate complex investment landscapes to achieve strong financial returns. KKR operates globally, leveraging its extensive expertise and resources. Notably, KKR has made significant investments in the dermatology practice sector, including the acquisition of Bay Dermatology & Cosmetic Surgery for $7.5 million in a sale-leaseback transaction, and Laser Clinics Australia for a deal valued in the mid-$600 millions. Additionally, KKR participated in a funding round for SkinSpirit Skincare Clinic and Spa, showcasing their active role in the dermatology industry. These transactions highlight KKR's commitment to investing in healthcare and dermatology practices, making them a key player in this field.

Dermatology Practice Insights: Key Investors in the US

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