In 2008, laser hair removal company SpectraGenics Inc. raised $30 million in venture funding and changed its name to Tria Beauty.
- Address: 5880 W. Las Positas Blvd., Suite 52 Pleasanton, CA 94588
- Telephone: (925) 701-2540
- Former website: http://www.spectragenics.com/
In 1993, a team of scientists, engineers, and dermatologists developed Lightsheer, the first professional diode laser hair removal system. In 2003 that team formed SpectraGenics, Inc. In July 2008 they changed their name to TRIA Beauty.
SPECTRAGENICS ANNOUNCES $30M IN NEW FUNDING
CHANGES COMPANY NAME TO TRIA BEAUTY
Pleasanton, Calif. – July 10, 2008 – SpectraGenics, Inc., a leader in light-based therapeutic beauty
products, today announced the completion of a new round of financing led by prominent
consumer health care investors. New investors Vivo Ventures and Aisling Capital, along with
existing investors, provided $30 million in new funding to support the company’s continued
growth. The company also announced a change in their name from SpectraGenics to TRIA
Beauty to better reflect their corporate mission and future initiatives.
“The timing and size of this funding confirms our confidence in the opportunity to build a new
category in the beauty industry anchored by light-based devices that deliver breakthrough skin
care benefits to consumers,” said Robert Grove, Ph. D., President and CEO of TRIA Beauty.
“Clearly, this is one of the most promising areas in the aesthetic industry and represents a gamechanging
shift in the accessibility of professional procedures and results for the consumer.”
TRIA Beauty jump-started the category with the TRIA Personal Laser Hair Removal System, the
first hand-held laser for hair removal cleared by the FDA and available for sale directly to
consumers in the US market. The TRIA laser is currently sold in the US at select physician
offices and will be available this fall at Bergdorf Goodman, Studio at Fred Segal, Bliss catalogs
& spas, and at www.triabeauty.com.
“We see a tremendous opportunity to build a new kind of beauty company, one based on real
science that can truly deliver therapeutic skin care benefits that were previously unavailable
outside a physician’s office,” said Albert Cha, M.D. Ph.D., Managing Partner, Vivo Ventures.
“In our opinion, it’s the next frontier in skincare.”
TRIA Beauty will use the new funding to accelerate the launch of the TRIA Personal Laser Hair
Removal System in the United States and continue development of additional product
innovations that provide skin care solutions currently not available in the market.
According to Grove, changing the company name and identity to TRIA Beauty was made to
strengthen marketing communication and reduce potential confusion by aligning company and
brand name, marks and logos worldwide. The transition from SpectraGenics to TRIA Beauty
will take place over the summer and be complete in the U.S. by September.
About TRIA Beauty
TRIA Beauty, formerly known as SpectraGenics, is a leader in light-based therapeutic beauty
systems that incorporate clinically-proven aesthetic technologies for at-home personal care
regimens. In 1993 Robert Grove, Ph.D., and a team of American dermatologists and engineers
developed the first diode laser for hair removal utilized by physicians in their medical practices. In
2003, these individuals assembled an internationally renowned team of experts in the field of
aesthetic lasers to begin the development of its flagship TRIA device and future innovations in
science-driven consumer beauty products.