2025 was a slower year than most in recent memory when it came to beauty fundraising.
TikTok-viral lip stain brand Wonderskin’s $50 million Series A round led in May by Insight Partners was the category’s biggest raise globally, data from Pitchbook shows, with salon and spa provider PS Lifestyle coming in at number two in the U.S. with a $21.6 million raise in February.
Other raises of note this year included OneSkin, the biotech skin longevity brand that doesn’t yet have retail distribution but raised $20.4 million from Prelude Growth Partners, and cosmetics brand LYS Beauty, which sells at Sephora and TikTok Shop and raised $15 million from Encore Consumer Capital in the brand’s first fundraising round in March. Wonderskin, too, sells on TikTok Shop, and launched at Sephora this September in 350 doors.
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Fragrance brand DedCool scored an additional $7.5 million in April, with early investor Sandbridge Capital upping its stake in the buzzy, under-$100 scent brand. Meanwhile newcomer Sincerely Yours, the tween beauty brand launched this year at Sephora by 16-year-old influencer Salish Matter and her father, Jordan Matter, also made the top 10, raising a $7 million seed round.
Despite much debate surrounding the topic of tween skin care, the launch of Sincerely Yours at Sephora was a resounding success, with the four-piece line selling out within days of launch and a September launch event at the American Dream mall drawing more than 80,000 attendees.
In 2023, the number-one beauty raise was a $60 million round by health startup NewLimit, followed by True Botanicals’ $30 million Series B raise led by NextWorld Evergreen. Other top-10 raises that year were by The Lip Bar, Matter of Fact and Half Magic. TikTok virality, notably, was less of a factor then among the top 10 brands versus in 2025.
Also of note: wellness brands raised more than beauty brands this year. David Protein, for instance, raised a $75 million series A funding round this year led by Greenoaks with participation from Valor Equity Partners. Women’s health company Perelel raised $27 million, while supplement companies Cymbiotika and Veracity raised $25 million and $6 million, respectively. Wellness shot brand Dose raised $47 million this year.
