computer-science
Musely secures $360M from General Catalyst without giving up equity
Key takeaways
- Musely, a direct-to-consumer telemedicine platform, has secured over $360 million in non-dilutive capital from General Catalyst’s Customer Value Fund (CVF).
- The company specializes in compounded treatments for skin, hair, and menopause care.
- That’s because Musely, which was founded in 2014 as a wellness community before pivoting to prescription skincare in 2019, has been cash flow positive for years, he said.
Musely, a direct-to-consumer telemedicine platform, has secured over $360 million in non-dilutive capital from General Catalyst’s Customer Value Fund (CVF).
The company specializes in compounded treatments for skin, hair, and menopause care. Musely co-founder and CEO, Jack Jia, told Tech Crunch that when CVF investors reached out to him last year, he wasn t looking to raise capital.
That’s because Musely, which was founded in 2014 as a wellness community before pivoting to prescription skincare in 2019, has been cash flow positive for years, he said. Jia didn’t want to reduce his ownership in the company by selling off a chunk of it to VCs. They frequently approached him about a potential round and he consistently turned them down, he said.
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