Moxie, a startup dedicated to supporting nurses in launching their own medspas, has recently secured a significant $10 million Series B funding round led by Lachy Groom, a solo VC investor. This funding will further assist Moxie in providing nurses with the tools and resources they need to successfully operate their businesses. With a focus on offering billing software, marketing services, and discounted supplies, Moxie aims to streamline the process of establishing and running a medspa for healthcare professionals looking to transition into the aesthetic industry.
The decision to raise additional funding comes on the heels of Moxie’s impressive growth since its $15.7 million Series A round just a year ago. This latest funding round, led by existing investor Lachy Groom and with participation from SignalFire, underscores the confidence in Moxie’s business model and the potential for continued success in the medspa industry. Founder and CEO Dan Friedman expressed his excitement for the future, stating, “Our business grew more than 4x over the last year. We still had more than 75% of the capital from series A, so there was no need for cash. But we also have a really big agenda and a big vision, and the [new funding] helps us double down.”
The rise in popularity of medspas offering minimally invasive aesthetic procedures has created a unique opportunity for nurses seeking alternative career paths outside of traditional healthcare settings. With most states requiring registered nurses to administer these procedures, many healthcare workers have found a new avenue for professional growth and fulfillment by launching their own medspas. Moxie’s comprehensive support system equips these nurses with the necessary tools and guidance to navigate the complexities of starting and running a successful medspa.
Dan Friedman’s background in entrepreneurship, having previously co-founded Thinkful before its acquisition by Chegg, positioned him well to identify the challenges faced by aspiring medspa owners. Recognizing the high costs and intricate processes involved in launching a medspa, Friedman developed Moxie as a solution to streamline the setup process and reduce the financial burden on nurses looking to enter the aesthetic industry. By offering a “business-in-a-box” solution, Moxie enables nurses to establish their clinics efficiently and affordably, setting them up for long-term success in the competitive medspa market.
In addition to providing essential tools for launching and managing a medspa, Moxie also focuses on helping owners optimize their operational costs by partnering with major suppliers to negotiate bulk discounts on supplies. This strategic approach not only benefits Moxie’s clients by allowing them to offer competitive pricing but also positions them to effectively compete with established medspa chains and private-equity-backed management companies. By empowering medspa owners with cost-saving opportunities and business support, Moxie aims to foster a thriving community of independent aesthetic clinics.
One of the key differentiators of Moxie’s business model is its emphasis on personalized branding for each medspa owner. While some companies in the industry operate under a franchise model with a uniform brand identity, Moxie prioritizes showcasing the individual entrepreneurs behind each medspa. This approach not only cultivates a sense of ownership and pride among medspa owners but also highlights the diverse and innovative offerings within the medspa market. By championing the unique identities of its clients’ businesses, Moxie reinforces its commitment to empowering nurses in their entrepreneurial endeavors.
As the medspa industry continues to expand, with over $15 billion spent annually on aesthetic procedures, the landscape presents ample opportunities for growth and success. While other VC-backed companies like Addition, Ever/Body, and Peachy also offer medspa services, Moxie stands out for its distinct approach and focus on supporting independent medspa owners. By providing a comprehensive suite of tools, resources, and guidance, Moxie is poised to make a lasting impact on the medspa industry and empower nurses to thrive in their entrepreneurial ventures.
Overall, Moxie’s recent Series B funding round signifies a vote of confidence in the company’s mission to support nurses in launching and operating successful medspas. With a strong emphasis on personalized branding, cost-saving strategies, and business support, Moxie is well-positioned to drive innovation and growth within the medspa industry. As the demand for minimally invasive aesthetic procedures continues to rise, Moxie’s dedication to empowering healthcare professionals in their entrepreneurial pursuits is poised to shape the future of the medspa market.
