Moxies raises $15.7m to accelerate empowering independent medspas

Medspas help people look and feel their best. That’s why the number of medspas has grown nearly 20% every year for more than a decade (Amspa, 2023) as customers seek aesthetic services like wrinkle-relaxers (Dysport, Botox, Xeomin), fillers, IV hydration, and laser treatments. 

Yet starting and operating a medspa is fiendishly difficult. To solve that problem, we’re thrilled to share that Moxie has raised $15.7m led by SignalFire and Boulton & Watt to help independent practitioners start, manage, and grow their own medspas more easily, more profitably, and more quickly.

Nurses and other medical practitioners who’ve been historically overworked and underpaid by the traditional hospital systems are looking for new, more self-directed opportunities to apply their skills. Opening a medspa allows them to dramatically increase their income while setting their own hours. Experienced practitioners employed by medspas are also starting their own practices with Moxie, leveraging loyal clients they’ve built relationships with to create their own brand and reputation. 

Unfortunately it’s expensive and difficult to launch a medspa. Before Moxie, you had to find a medical director, spend over $15,000 on bespoke contracts, pick an EMR from a range of dated options, find a marketing agency, a bookkeeper familiar with the industry, someone to run the phones, and on and on. 

Moxie offers a ‘business-in-a-box’ that enables entrepreneurs to start and run their own medspa business, with their own brand, creativity, clinical skills, and business decisions at the forefront. Medspas that start with Moxie typically open in less than 60 days and for less than $30k compared to a 2021 Amspa industry average of $163k.

Moxie makes the solo-entrepreneur more effective than even the biggest chains, and over the last 12 months, we’ve helped over 150 nurses take control of their lives and enabled them to build successful businesses. Over 95% of Moxie entrepreneurs are women, nearly half are women of color, and the majority had never started a business before working with Moxie.

With Moxie, they benefit from a best-in-class partnership that provides a full EHR/POS software stack built just for aesthetics services, personalized business coaching, marketing services, financial services, and more. Moxie’s unique business model is predicated on deep partnership and only makes money when the medspa location does. And with the industry predicted to grow to $50 billion annually by 2030 according to Grand View Research, there’s plenty of demand.

Here’s what Moxie entrepreneurs have to say:

• “This was like the third best decision of my life: first was nursing school, second was opening a medspa, and third was working with Moxie. Moxie just makes it so easy” - Ashley Reed of Yofi MedSpa, Pennsylvania 
• “Thank you Moxie for changing my life. I feel liberated and the happiest/healthiest I've ever been as an adult. Launching a medspa with Moxie empowered me to change from the inside out. I really meant it when I said Moxie, y'all, have changed my life.” - April Gage of Luxus Medical Spa, Arkansas
• “Moxie has gone above and beyond to support my vision and goals! I can’t imagine running my aesthetic practice without Moxie.” - Brittney McCasland of AZ Nurse Injector, Arizona
• “Working with Moxie has been a lifesaver in launching my own practice. Their support has made my dream practice come true” - Jeannie Jhu of ReJHUvenate Aesthetics and Dermatology, California

By taking care of the back-office and growth work, we help medspa entrepreneurs focus on serving their clients. This year alone, Moxie has launched payments, a banking solution, in-app supply purchasing, an in-house marketing agency focused on medspas, a lead management service, and more. 

Moxie welcomes new board member Chris Scoggins from SignalFire, who scaled Datalogix to its $1.2 billion acquisition by Oracle, and independent board member David Klements, who scaled behavioral health EHR Qualifacts to more than $100m in annual revenues and 100,000 clinicians using their platforms as its former CEO. “We invested because of the size of the opportunity, the quality of the team and its execution, and the comprehensiveness of the solution. In just one year, Moxie became the leader in its category,” said Scoggins. They join Boulton & Watt’s co-founders on the board.

With the Series A funding, Moxie will increase its lead as the most popular way medical providers manage medspas by expanding nationally and continuing to develop services that make it easier to grow a profitable medspa. Thank you for joining us as we empower entrepreneurs to start their dream businesses.