Colorescience, a California-based cosmetics brand, has raised $15 million in Series C funding. The company has raised a total of $40 million to date.
The round was led by 1315 Capital, a Philadelphia-based healthcare investment firm, with participation from Healthcare Ventures, Greenspring Global Partners and Montreux Equity Partners.
In addition to the investment, Adele Oliva, founding partner at 1315 Capital, has joined Colorescience’s board.
Diane Ranger launched Colorescience in 2000 with a range of cosmetics that focus on healthy skin. The company’s product lines include skin perfectors, foundations, enhancers and UV protectors that can be found at Amazon, Ulta, Sephora and a variety of other beauty retailers in addition to its website.
“This investment comes at an important inflection point in our growth at Colorescience and allows us to further invest in innovation and firmly establish our sales and marketing leadership in the aesthetics and beauty industry,” Mary Fisher, Colorescience’s CEO, said in a statement. “We are particularly pleased to partner with 1315 Capital given their team’s long and proven track record of backing successful high-growth health care companies.”
The funds will be used to expand operations.