Meibei, a Leading Aesthetic Medicine Consultation Platform, Secures Tens of Millions in Series B+ Funding to Accelerate Global Expansion
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Investment Institutions in Innovative Fields
VCBeat (WeChat ID: vcbeat) has learned that on the morning of March 7, Meibei, a medical aesthetics consultation service platform, announced the completion of its B+ round financing, amounting to tens of millions of yuan. The investors were the Sichuan E-commerce Industry Equity Investment Fund and the Sichuan Health and Elderly Care Industry Equity Investment Fund. Gong Liansheng, founder and CEO of Meibei, revealed that the funds from this round will be primarily allocated to five key areas: content upgrading, platform enhancement, talent acquisition, market expansion, and brand promotion.
Meibei was founded in June 2011, positioning itself to provide users with medical aesthetic solutions through its e-commerce platform, consultation service platform, and aesthetic design consultant center. Leveraging a multi-channel approach comprising PC websites, mobile websites, and mobile apps, it delivers professional, compliant, and safe medical aesthetic services online, with a primary focus on procedures such as eye surgery, rhinoplasty, and liposuction.
In recent years, with the liberalization of social attitudes and consumption upgrades, the medical aesthetics economy—driven primarily by female consumers—has risen rapidly. According to statistics, China’s medical aesthetics market reached RMB 176 billion in 2017, maintaining a compound annual growth rate (CAGR) of 40% over the past three years.
Against the backdrop of rapid market growth, pain points in the traditional medical aesthetics industry—such as high customer acquisition costs, reliance on marketing, and information asymmetry between supply and demand sides—have become increasingly prominent, giving rise to a large number of internet-based medical aesthetics platforms. Among them, Meibei, which focuses on surgical procedures and high-end operations while committing to providing personalized customized services for users, has quickly stood out and firmly established its position as an industry leader.
As of now, Meibei’s business has expanded to 34 provinces, municipalities, and autonomous regions across China, establishing partnerships with over 3,500 licensed medical aesthetic institutions and more than 10,000 practicing physicians. The platform averages over 300,000 daily visitors and has provided more than 30 million consultation services. In 2018, Meibei’s annual gross merchandise volume (GMV) reached RMB 800 million, with surgical procedures accounting for the majority of its revenue.
In terms of team composition, Meibei currently has over 600 employees, including nearly 300 in content and platform teams and more than 350 in the consulting team.
Despite the already substantial total market size, the penetration rate of China’s medical aesthetics market was only about 2% in 2018. Compared with the approximately 10% penetration rate in developed markets, there remains a 5- to 6-fold growth potential. Market forecasts indicate that the size of China’s medical aesthetics market is expected to exceed RMB 200 billion in 2019.
According to Gong Liansheng, Founder and CEO of Meibei, as market penetration increases, China’s medical aesthetics consumer base is gradually exhibiting a “stratified” effect, with increasingly diversified demands. To provide consumers with more refined services and lead the industry’s continued rapid development, Meibei will focus its efforts on five key areas in the future:
I: Content Upgrade.In 2019, Meibei will significantly strengthen its content production and build a multi-dimensional service network through multiple channels, including PC, mobile app, mini-programs, and social media. It aims to provide users with accurate concepts of medical aesthetics and professional industry information, helping them find reputable hospitals, qualified doctors, and suitable procedures to ensure a positive medical aesthetics experience.
II. Platform Strengthening.Meibei has implemented comprehensive technical optimizations, resulting in faster platform response times, more robust functionality, and a significant improvement in supply chain efficiency. Additionally, Meibei has entered into a strategic partnership with Xiaoduo AI to integrate artificial intelligence into its consultation services. Currently, AI-powered consultation services are in the initial trial phase, providing users with more considerate and comprehensive multi-dimensional support.
III: Strengthening Talent.In 2019, Meibei recruited a large number of professionals with medical backgrounds into its frontline service team, striving to provide consumers with more attentive and professional service experiences.
IV: Market Expansion.As a well-known medical aesthetics consultation platform in the industry, Meibei partnered with medical institutions in South Korea, Japan, and other countries in 2019 to expand its overseas business. Currently, Meibei has established partnerships with 80 institutions in South Korea and 50 in Japan, collaborating with over 400 doctors.
V. Brand CommunicationIn response to the rapidly evolving industry, the Meibei brand has undergone a comprehensive rebranding and launched a large-scale, systematic brand communication campaign.
Gong Liansheng stated that Meibei currently maintains a healthy cash flow. The participation of government funds in the new round of financing serves as a significant endorsement of Meibei’s commercial value and service quality, while also providing effective oversight.
“Previously, the medical aesthetics industry lacked standardization. The government has been promoting industry development through informatization. In particular, following enhanced supply chain collaboration, the improvement of regulatory and evaluation systems will play a positive role in transforming the entire sector. For consumers, only traceable products and services offer safety assurances, thereby fostering a healthier industry.”
Chengdu is currently making concerted efforts to build a “Medical Aesthetics Town,” having introduced a series of favorable policies related to the medical aesthetics industry. Driven by both capital and policy support, Meibei and the industry as a whole are poised for further accelerated growth.
Gong Liansheng stated that in addition to government support, corporate self-regulation is also crucial. He emphasized that Meibei’s future development must “not only pursue commercial value but also place greater emphasis on social responsibility.”
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