NEW YORK, Nov. 7, 2023 /PRNewswire/ -- ELEMENT EIGHT, a premium brand bringing the cutting-edge advances of biomedicine to skincare through its proprietary OATH™: Oxygen Amplified Therapy, today announced that it has closed $6M in funding in a SAFE round. The brand reported $2.5M of investment from its existing investors, and was able to attract an additional $3.5M from new investors.
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"With forty five percent of the round coming from surgeons, dermatologists, and PhD scientists, we have a strong validation of the scientific acumen of the brand. We were very pleased to also have participation from private family offices with experience in beauty investing, who accounted for thirty four percent of the round," said Company Chairman Bradley Patt. "Finally, realizing fourteen percent participation from management, employees and members of the company's board of directors shows excitement about the Company's progress from the people inside."
Including the successful SAFE Round that just closed, the Company has raised a total of $7.9M to date. Immediately upon closing this SAFE funding, the Company has announced it will proceed on to a new $6.25M Series A Round to continue to accelerate the growth of potent skincare products.
ELEMENT EIGHT is redefining the anti-aging skincare market by bringing cutting-edge advances from the world of biotechnology to skincare. With its proprietary OATH™: Oxygen Amplified Therapy technology, which mimics the function of hemoglobin to deliver 20x more oxygen directly to skin cells up to 700 microns deep, ELEMENT EIGHT addresses skin's biological performance and counteracts the key signs of aging. This technology was developed by a team of world-renowned spine surgeons, biomaterial engineers, dermatologists and clinical researchers over the course of a decade, and has attracted investors and consumers on the forefront of the high-performance skincare industry to the brand.
Founder and Board Member Gerard Camme said "ELEMENT EIGHT has a unique point of difference thanks to the innovative technology of OATH™, and fits into the fastest growing segment of the global skincare market. As we look ahead, we're excited to continue to innovate on the groundbreaking advances of our multi-expert team to bring new products to market and make ELEMENT EIGHT accessible on a wider scale."
In addition to this newest round of funding, ELEMENT EIGHT announced the appointment of Jake Galtere as Chief Marketing Officer and Kristi McCluer as Vice President of Global Sales and Education to drive the brand's global strategy and oversee continued expansion.
With over a decade of experience developing digital marketing strategies across the luxury market, Jake Galtere joins ELEMENT EIGHT after most recently serving as Vice President of Marketing for Ralph Lauren and Azzaro Fragrances. He has held posts at leading brands including Lancôme, YSL Beaute and Mugler, working to accelerate growth, driving innovation, awareness and consumer engagement.
"Joining Element Eight was an easy decision. The brand has an extremely distinct DNA, from its origin in spine surgery to the multi-expert team who continue to innovate for the consumer," said Jake. " Importantly, the products really do work. I'm extremely excited to help bring this brand to market."
Appointed as Vice President of Global Sales and Education, Kristi McCluer joins the ELEMENT EIGHT team with over 15 years of experience in luxury sales. Coming from the L'Oréal Luxury Division, Kristi was responsible for omni-channel retailer business development and strategy. Most recently, she earned an Executive Certificate in Digital Marketing Analytics from MIT.
"I am thrilled to join ELEMENT EIGHT to advance the skincare industry. Our technology is unique and is proven through robust scientific research and clinical studies," said Kristi. "I see a remarkable opportunity to empower customers and redefine the way we experience healthy skin."
"Jake and Kristi bring a wealth of expertise in the luxury beauty industry, having played central roles at leading luxury brands. They bring with them extensive experience and a deep understanding of the beauty industry that will be pivotal to the development of our global strategy and expansion of the ELEMENT EIGHT brand," said Gerard Camme. "I am incredibly pleased to appoint Jake and Kristi and look forward to supporting their vision for the brand in this next phase of our growth."
As the Company rolls out its Series A offering it is pleased to announce it has joined Ohana & Co.'s incubation platform: "We have been following Element Eight since its inception and have been impressed with the traction gained and what CEO Gerard Camme has achieved in just one year since the launch," said Ohana & Co. Managing Partner, Karine Ohana.
The Company is also excited to announce that Martin Brok, accomplished global executive with over 35 years of experience in senior roles, including as Global CEO of Sephora, Nike, Starbucks, and The Coca-Cola Co, will join the company's Business Advisory Board and will participate in the Series A financing. "I see dozens of ideas in this space," said Mr. Brok, "Element Eight stood out to me as a very different premium offering that is entering the most dynamic segment of the skincare market: heavy science and luxury leaning with a distinct voice that separates itself from the clutter and fills a white space. I am excited to be a part of this team."
About ELEMENT EIGHT
Founded in 2022, ELEMENT EIGHT is bringing the latest advances in oxygen-infusing medicine to skincare. Developed by a world-renowned team of spine surgeons, biomaterial engineers, dermatologists, clinical researchers and systems group engineers. Collectively they hold 16 MD-PHDs, 120 medical patents and over 100,000 uses of technologies they have developed. The team spent over a decade developing the brand's proprietary OATH™: Oxygen Amplified Therapy technology mimics the function of hemoglobin to deliver 20x more oxygen directly to skin cells up to 700 microns deep, counteracting the key signs of aging, all of which are caused by oxygen depletion in the skin.
True to the brand's ethos of clean science, all ELEMENT EIGHT products are formulated without parabens, GMO's PEG's, sulfates, phthalates, formaldehyde or formaldehyde releasers, oxybenzone and octinoxate, hydroquinone, triclosan, coal tar, methylisothiazolinone and methylchloroisothiazolinone, and insoluble plastic microbeads. ELEMENT EIGHT is 100% vegan, gluten-free, cruelty-free and fragrance-free. ELEMENT EIGHT's packaging was developed with environmental impact at top of mind and is recyclable and FSC certified. For more information, visit the brand at .
Media Contact: Paige Davis, [email protected], +1 502 472 8611
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