Three-time CEO Amy Shecter raises $55 million for Ever/Body
Good morning, Broadsheet readers! Female S&P 500 executives control just 1% of all shares, Sheryl Sandberg’s Lean In philosophy is a key motivator at one female-led venture firm, and a three-time CEO takes on her next challenge. Have a wonderful Wednesday.
– Third time’s the charm. Amy Shecter is no stranger to running a business. The three-time CEO led CorePower Yoga and the on-demand beauty services business GlamSquad—not to mention stints at the president and VP level at apparel brands Tory Burch and C. Wonder—before taking on the chief executive job at the cosmetic dermatology chain Ever/Body in 2020.
Almost two years later, she’s leading Ever/Body into its next chapter. The New York-based company has raised $55.5 million in Series C funding, Fortune is the first to report. The round was led by existing investor Addition, with participation from Tiger Global, ACME Capital, Declaration Capital, Fifth Wall Ventures, and Imaginary Ventures. While Shecter has raised capital before—GlamSquad was a venture-backed business—this particular milestone at this particular job is especially monumental for her.
“I feel like it is the crescendo of what I’ve been doing in my career,” Shecter says of leading Ever/Body. “I have led digitally native businesses and opened a lot of retail stores around the world. This business is an opportunity to flex both of those muscles.”
Ever/Body has about 75 employees and operates three locations in New York. Shecter plans to use the capital infusion to open six more storefronts in New York and Washington, D.C. by the end of 2022. Investors are bullish on the cosmetic dermatology space, which includes services like Botox, fillers, and laser hair removal performed outside of a traditional doctor’s office setting. (The company says its aestheticians and injectors go through up to 500 hours of training.) Citing data from Grand View Research, Ever/Body estimates that the total market for the services it offers is $73 billion. The average customer is 37 years old and returns three times in six months; 60% of clients purchase a second unique service, the company says.
Shecter’s experience at Ever/Body also speaks to another trend: the founder-to-experienced CEO pivot. Much like Glossier’s transition from founder Emily Weiss to new CEO Kyle Leahy and a similar changeover for founder Julie Wainwright at resale platform The RealReal, which was announced just yesterday, Ever/Body mirrored a similar executive jump. Shecter took the reins from Ever/Body founder Kate Twist in 2020, about a year after the company’s launch (Twist until recently served as board chair).
“I have tremendous respect for founders,” says Shecter, who’s previously served in high-level roles at brands like Liz Clairborne and Cole Haan. “I come into this business with a proven track record of how to morph from a founder-led business to a founder [co-operated] business. I now have the opportunity to help operationalize different facets of our business.”
At just under three years old, Ever/Body is a younger business than some other leading consumer brands, yet it made its corner office transition at an earlier stage than most. Its Series C round brings the company’s total capital raised to more than $100 million, says Shecter. “There is more demand for us right now than we can capture.”
P.S. Join the conversation as Fortune partners with Credit Karma for a special discussion, Bridging the Pay Equity Gap, on Thursday, June 9, 11 a.m. EST. The speakers, including Fortune senior writer Maria Aspan, Chipotle chief diversity, inclusion and people officer Marissa Andrada, Credit Karma chief people, places and publicity officer Colleen McCreary, and chief diversity and inclusion officer for L’Oréal North America Angela E. Guy, will explore the pressing issues connected to pay equity and how corporate leadership can bridge the opportunity gap to eliminate pay disparities and help employee retention. Register here.
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