First off, big thanks to the community for your continued belief in and support of Dermasport!
We want to take a minute to provide our community with some exciting updates about our capital raise. At the end of March, we initiated both a private round with accredited investors and the “testing the waters” phase of our regulation CF (Reg. CF) campaign.
We’re very excited to report that the private round closed at the end of April and received a very strong response, successfully closing a $600k with eight new outside accredited investors.
Accordingly, during the ‘testing the waters’ phase of our Reg. CF campaign on Wefunder, we’ve already received reservations that exceed our minimum target of $100k.
Based on these huge successes, the campaign is now LIVE for all investors on Wefunder!
Dermasport’s overall objective for the campaign is to more closely partner with our customers and make a stake in the company available to all of our athlete communities. We truly value our community and want them to be able to share in this journey!
We’re already using this capital to support expansion of our product offering, and we’re able to launch production of our four new products:
- SPF 30 Mineral Body Sunscreen Spray
- SPF 50 Clear Body Sunscreen Spray
- SPF 30 Daily Facial Moisturizer
- SPF 30 Lip Balm
Since all of our products are USA-sourced and manufactured, we’re already beginning to receive the Body Sunscreen Sprays. The other two new products will be in stock within the next month. We’re also in production for additional SPF 50 Facial Sunscreen, which recently stocked out.
If you’re reading this and haven’t invested already (or are thinking about investing), I encourage you to review our campaign page and reach out if you have any questions or feedback. We’d be honored to have you in the Dermasport family!
We truly appreciate your continued support and are excited to build Dermasport together. Let’s make it happen!
Todd Mitchell