DUBLIN, Calif. — Tria Beauty, a maker of laser and light-based skin care products, has announced the closing of $45.5 million in new equity financing and a new structured debt facility.
These funds will be used to launch multiple new laser devices for skin care, including the company's first device in the largest skincare segment — anti-aging. The funds will also allow the company to selectively expand distribution and accelerate its growth and operating plans, the company stated.
This latest round of equity financing was led by Bay City Capital and joined by new investors AmorePacific Ventures and Athyrium Capital Management. All major existing investors — including Aisling Capital, DeNovo Ventures, Morgan Stanley Alternative Investment Partners, Vivo Ventures and Technology Partners — participated in the equity financing.
"In less than five years, and in the midst of a troubled economy, Tria has grown from a nascent start-up generating its first revenues to the world's largest marketer of medical lasers for treating multiple skincare concerns. This financing will provide Tria with capital needed to continue to create breakthrough skincare products that deliver results never before available outside of a physician's office,” stated Kevin Appelbaum, CEO of Tria Beauty.
Tria Beauty also announced the completion of an up to $45 million structured lending facility provided by Athyrium Capital. This new debt facility refinances existing debt and provides incremental, non-dilutive capital to the company.