Subjects: FNC, LIC, CXP
Industry Disrupting Aesthetics Device Company Powered By MRP Raises Series A Funding from Aries Capital Partners and Swell Collective
PARK CITY, Utah, June 5, 2024 /PRNewswire/ -- Globally recognized aesthetics device company Powered By MRP is pleased to announce a strategic partnership with prominent Utah-based Growth Equity firms, Aries Capital Partners and Swell Collective. The Series A investment marks a pivotal moment in Powered By MRP's growth trajectory as it brings together unparalleled expertise and resources to accelerate the company's expansion plans and market presence.
The round was led by Aries Capital Partners and Swell Collective.
Aries Capital Partners brings decades of experience in identifying and nurturing high-growth companies, the firm is led by Rick Durham and Jason Reading. Their commitment to fostering innovation and driving operational excellence aligns seamlessly with Powered By MRP's mission to revolutionize the aesthetics device industry.
"The aesthetic device market has undergone dramatic transformation in the last five years and will continue to evolve quickly in how these devices are marketed and serviced," said Jason Reading, Partner at Aries Capital Partners. "To meet this challenge, Scott Carson, Founder and CEO, has assembled a world-class team and a vision on how to better service the needs of both end-users and manufacturers of aesthetic laser devices. He has the clinician and business owner in mind and wants to make the process of buying, selling, and servicing devices transparent to the end-user. We are excited to partner with Scott and his team to make his vision a reality," said Reading.
Swell Collective is a new growth equity fund led by experienced investors Aaron DeRose and Alex Daines, with Jeremy Andrus (current CEO of Traeger Grills and former CEO of Skullcandy) serving as an advisor and investor. The Swell Collective team has extensive experience investing in high-growth companies and understands deeply the nexus of consumer experience and technology. Their strong track record and operating background makes them an ideal partner for the next stage of growth for Powered By MRP.
"We became interested in MRP when we learned of the strong tailwinds behind the aesthetics market. When we met Scott and the rest of the Powered By MRP team, we quickly realized the amazing potential of the business," said Alex Daines, Principal at Swell Collective. "With strong foundations already in place, this growth capital will help fuel Powered By MRP to be a dominant player in the aesthetics industry, while continuing to provide best-in-class service to the physicians and clinicians it serves."
Since its founding in 2015, Powered By MRP has earned global recognition for its technology-driven platform. The company offers a vertically-integrated e-commerce platform that empowers aesthetic providers with consultative customer service and GPO-level pricing. As the largest reseller of new and pre-owned energy-based aesthetic and surgical devices worldwide, Powered By MRP continues to redefine industry standards and elevate customer experiences.
"As a data rich aesthetics device company, this partnership is a testament to our innovation and dedication to excellence," said Scott Carson, Founder and CEO of Powered By MRP. "Now, being partially owned by two of the most prestigious Growth Equity firms in the country, we're poised for even greater care to the physicians, clinicians and administrators we serve. I am proud of the entire MRP team that even in this very difficult equity market, MRP raised capital well above the median for a Series A, affirming our position as a leader in the industry and setting a new standard for growth and innovation," he said.
As part of the transaction, Jason Reading (Aries) and Alex Daines (Swell) will be joining the Powered By MRP Board of Directors. This is alongside founding members Scott and Marilyn Carson as well as Jonathan Nielsen (previously Backcountry.com CEO). As the company enters its next stage of growth, deepening its e-commerce, technology infrastructure, and logistics platforms, both Jonathan Nielsen and Powered By MRP CFO Shaun Groat, will play integral roles in the company's growth.
In alignment with its expansion strategy, Powered By MRP is actively planning to expand its facilities in key locations, including Salt Lake City and the Mid-Atlantic region. These expansion efforts signify the company's commitment to meeting the growing demands of its customer base while solidifying its position as a leader in the market. "The capital raised enables us to expand our capabilities to better serve our customers and drive innovation and ultimately the cost of healthcare to all patients," Carson concluded.
Other co-Investors in the Series A included Broadhaven Capital Partners, Jeff Lee and Chris Koh.
For more information, please visit mrp.io
About Powered By MRP
Powered By MRP is a globally recognized aesthetics device company founded by Scott Carson in 2015. Their technology-driven platform provides a vertically-integrated marketplace that helps aesthetic providers lower equipment costs through consultative customer service and GPO-level pricing. Powered By MRP is the largest reseller of new and pre-owned energy-based aesthetic and surgical devices in the world.
Visit www.mrp.io and follow us on LinkedIn, Facebook, Instagram, or YouTube for more information.
About Aries Capital Partners
Aries Capital Partners specializes in providing strategic capital solutions to businesses across various industries. With a commitment to fostering growth and innovation, Aries Capital Partners leverages its expertise and network to support companies in achieving their growth and financial objectives. Through a collaborative approach and tailored investment strategies, Aries Capital Partners aims to drive value and success for its clients and partners.
About Swell Collective
Swell Collective is a growth-equity fund based in Lehi, UT working with entrepreneurs who want flexible capital partners focused on long term growth. We are active investors, seeking to partner with founders and operators to create value through our operating and business backgrounds. Swell primarily focuses its investments on the Intermountain West region with a broad investment mandate, looking at high-growth companies in tech, consumer, retail, e-commerce, and services.
SOURCE Powered by MRP
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