Colorescience concludes $15m series C preferred stock financing

Cosmetics firm Colorescience has concluded $15m series C preferred stock financing led by 1315 Capital, a Philadelphia-based healthcare investment company.

The investment will be used to develop new products, as well as support sales and marketing presence in the aesthetics and beauty sector.

Colorescience develops clinically-tested skincare and cosmetics offerings such as Even Up Clinical Pigment Perfector and Sunforgettable Brush-on Sunscreen SPF 50.

Intended for any age and skin type, Colorescience’s skincare products focus on providing protection from ultraviolet (UV) exposure and environmental aggressors.

Available for purchase through licensed physicians and on colorescience.com, the firm’s products are formulated using substantiated ingredients at therapeutic-approved levels to ensure maximum performance and efficacy.

Following successful completion of the financing, 1315 Capital's founding partner Adele Oliva joined the board of directors at Colorescience. She said: "We are thrilled to be working with the team at Colorescience to support the growth of their products given their focus on skin health and protection.

“Skin is the body's largest organ and the Colorescience products provide one of the highest quality solutions for medical professionals and consumers."

The investment company provides expansion and growth capital to specialty companies in pharmaceutical, medical technology and healthcare service segments.