Boost Lab was launched last year with well-known industry entrepreneur, Craig Schweighoffer, named CEO. The ground-breaking range of single focus skin treatment serums hit the ground running, winning five leading awards and signing with an impressive array of Australian and New Zealand retail and pharmacy partners.
The global serum market is currently valued at US$2 billion and is predicted to double over the next 10 years. The sort of industry-backed potential that is business catnip to investors.
Boost Lab has announced the completion of a Series A capital raise, taking the total funds raised since the brand’s debut to over $5 million.
The latest round was led by Belz Family & Associates ( BF&A), a Sydney-based advisor to Australian consumer brands. According to Gavin Ezekowitz, managing partner of BF&A – “Given the momentum of the brand and Craig’s reputation, there was significant demand out of the gate for the Boost Lab opportunity. The transaction was multiple times over-subscribed and we are thrilled to deliver Boost Lab to a select group of venture and strategic investors who are excited to back the company for significant longterm growth.”
Alium Capital, Boost Lab’s initial seed investor, is now joined by leading plastic surgeon, Dr Michael Miroshnik, and Profeta Investments, a global investment fund, as advisors and investors. Yaru Ventures, strategic advisors to Boost Lab on Asian markets, also took part in the latest round.
“The success of this Series A raise will enable us to double down on our new national brand awareness campaign starting over the next month to support our retailers and also cement our position as leaders in the facial serums category”, says Schweighoffer.
The new funding will be used to continue our strong push in the Australian and New Zealand market, with global expansion also underway, he adds.
“There is a pent-up demand in the markets we are entering for a high-quality range of targeted serums at affordable price points. This Series A raise is an important milestone for Boost Lab as the company continues on the trajectory for an IPO (initial public offering) in the later part of 2022.
“A great platform is being set for 2022 with the steep change in brand awareness activity and also the fast-tracking of some innovative new products which we believe will be category leading.”
Schweighoffer certainly has the track record to meet all targets. The respected entrepreneur and brand and re-branding expert, was the Founder and CEO of Ecoya/Trilogy from 2006 to 2012. From 2014 to 2020, he was the Founder/CEO of Biophysics, the brand owner of Australian cosmeceutical brand, Skin Physics, and Rapid Loss, Australia’s leading meal replacement shake and snack brand.