Wonderskin Secures $50 Million Series A Round
Already a hit with TikTokers, Wonderskin's Wonder Blading Lip Stain Masque has also made an impression on venture capitalists.
The five-year old brand, which has headquarters in the UK and manufacturing in the US, announced the closing of its Series A investment round on Wednesday. The $50 million investment was led by VC firm Insight Partners, which is known for its tech and DTC brand portfolio that includes Shopify, Quince and Prose. The funding will be used to support Wonderskin's retail and product expansion, as well as research and development at the company's lab in New Jersey.
The brand 'blends viral consumer energy with real product innovation,' said Rebecca Liu-Doyle, managing director at Insight Partners.
Introduced when the brand launched in 2020, the Blue Wonder stain began to captivate viewers on TikTok two years later in part for its application, which goes on blue and wipes off to a variety of pinks, reds and mauves. Influencer posts about it have earned tens of millions of views, and the product received a shoutout from Cosmopolitan's beauty editor on the Today Show.
The brand's co-founder and chief executive Michael Malinsky, along with-co-founders Marina Kalenchyts (brand director) and Doug Cooper (COO), came across the stain when researching new products being developed by labs. The formula stood out for its potential to spark social engagement, and the company purchased the New Jersey lab that developed it.
'The visual disruption is important. We live in a social media world with very short attention spans and lots of content, and without genuinely putting something interesting in front of people, it would be easy to get lost,' said Malinsky.
Sold in Boots in the UK and US retailers Nordstrom and Urban Outfitters, the brand's biggest channels remain DTC, Amazon and TikTok Shop, said Malinksy. The brand does not disclose sales numbers, but its lip stain has sold over 372,000 units on its TikTok Shop product listing, and is currently number 25 on Amazon's top-selling beauty products.
The brand's new funding is earmarked for a traditional retail launch in the US in 'relatively short order,' said Malinsky. It will also use the investment to pursue expansion into more product categories. The company projects 2025 sales to double compared to 2024.
Learn more:
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