Tria Beauty is a Pleasanton, Calif.-based cosmetic medical device company that makes at-home hair removal and skin rejuvenation devices using light-emitting technology. Its products are sold both by physician prescription and over the counter at retail stores. The company went public one year ago in an IPO underwritten by Morgan Stanley and Wells Fargo. Tria has pursued additional capital via private offerings, launching a hoped-for $20 million raise last year from six unnamed investors. It is currently conducting an open-ended equity offering and has so far raised $40 million from 13 unnamed investors, with filings indicating no cap on the total and an expected wrap-up by 2015. Regulatory filings also show several company directors have links to venture and life-science firms including Vivo Ventures, Aisling Capital, Technology Partners, DeNovo, SurgeRx, PLxPharma and Bay City Capital. TRIA Beauty develops and sells light-based skincare products. The company completed a combined equity and debt financing to support its commercialization efforts. It plans to use the new funds to continue to commercialize its light-based skincare products globally. TRIA completed $27M in equity and $10M in debt financings, for a total of $37M. Following an initial $15.6M closing in August 2010, the company secured an additional $21M from existing and new investors, including Morgan Stanley Alternative Investment Partners and Silicon Valley Bank. The company is led by CEO Kevin Appelbaum and added Mike Valentino and Ed Unkart to its board of directors. Tria Beauty, formerly SpectraGenics and based in Pleasanton, Calif., produces a laser hair-removal device cleared for home use and recently approved by the FDA for the U.S. market. The device has been sold in Japan and some European countries prior to U.S. clearance. Tria positions its product as a lower-cost, more accessible alternative to specialist-performed laser hair removal, targeting adoption in homes and beauty salons to expand its market. The company raised $30 million in its fifth round of financing, which will support market expansion as the devices become more common. Tria’s prior financing included a round of over $20 million. SpectraGenics develops laser hair-removal devices designed for home use. The company is based in Pleasanton, Calif. It sells a version of its device in Japan under the name i-epi. The business appears to operate fairly stealthily. Financially, SpectraGenics raised at least $20 million in a fourth round of funding. That round was led by De Novo Ventures and Technology Partners, with participation from Aphelion Capital, Incubic Venture Capital and SDL Ventures.

Total raised

$127M

Funding rounds

5

Latest round

Equity

Latest activity

Jun 2013