RepeatMD: Revolutionizing the Aesthetics and Wellness Industry
The aesthetics and wellness industry has experienced a significant shift in recent times, primarily driven by the ongoing pandemic. With an increasing reliance on digital channels, businesses in this sector are now expected to have a strong online presence to attract and retain customers. However, not all practitioners possess the necessary skills and resources to establish such a presence. This is where RepeatMD comes in. Founded in 2021, RepeatMD offers turnkey software solutions to operators in the aesthetics and wellness sector, enabling them to thrive in the digital realm.
Key Takeaway
RepeatMD secures $40 million in funding to further develop its platform, expand its network of partners, and enhance the patient buying experience in the aesthetics and wellness industry.
The Advantages of RepeatMD
RepeatMD primarily caters to small and medium-sized businesses looking to generate additional revenue streams. With its innovative platform, practitioners can now sell their treatments and services around the clock, providing a seamless and convenient patient buying experience via a mobile app.
Moreover, RepeatMD goes beyond merely facilitating transactions. The company integrates with Affirm, allowing customers to pay for services through monthly installments. Similar to popular loyalty programs, RepeatMD’s apps also engage customers through personalized notifications and discount offers, akin to the rewarding experiences one might find at Starbucks.
Phil Sitter, the founder and CEO of RepeatMD, envisions the company becoming the “Shopify of the medical industry.” By harnessing algorithmic solutions, RepeatMD streamlines the practice onboarding process and empowers patients to discover treatments that align with their individual goals.
Rapid Growth and Investor Interest
RepeatMD’s success is evident in its growing customer base. The company currently serves over 3,500 practices and boasts 700,000 users. In the past year alone, RepeatMD’s software-as-a-service revenue has experienced a remarkable 130% increase.
This impressive growth has garnered the attention of investors. RepeatMD recently announced a $40 million funding round led by Centana Growth Partners and Full In partners, with participation from Proof and Mercury Fund. Additionally, the company secured a $10 million loan from Silicon Valley Bank. The infusion of capital brings RepeatMD’s total funding to $56 million and will be utilized to expand the platform, forge new partnerships, and expand the company’s workforce from 130 employees to over 150 by year-end.
Sitter emphasizes that RepeatMD’s offerings are particularly relevant in the current landscape, as practices seek innovative ways to generate revenue and improve patient retention. By consistently introducing new revenue streams and offering a rewarding loyalty program, RepeatMD has established itself as a game-changer in the aesthetics and wellness industry.
With its latest funding, RepeatMD is well-equipped to propel its mission further, revolutionizing the way aesthetics and wellness businesses operate, while providing seamless and convenient experiences for both practitioners and patients.
