YueMei Secures RMB 80 Million Series C Funding to Optimize Supply Side and Expand Offline Presence, Files for IPO

VCBeat (WeChat ID: vcbeat) recently learned that YueMei, China’s leading internet-based medical aesthetics platform, has announced the completion of an RMB 80 million Series C financing round. The round was led by Haneng Venture Capital, with follow-on investment from SAIF Partners, a previous investor. JoyCapital served as the exclusive financial advisor.

Yuemei, launched in 2012, is a pioneer in the internet-based medical aesthetics industry. Over more than four years of development, it has vigorously promoted service standardization, price transparency, and rationalization within the medical aesthetics sector by establishing a community-driven POP e-commerce platform, an online review and reputation system, as well as qualification verification and safety assurance frameworks. In an industry long criticized for information opacity, Yuemei has significantly improved consumers’ decision-making efficiency and service experience.

Through the accumulation achieved in Phase 1.0, Yuemei has garnered over 12 million monthly active users, partnered with more than 3,000 medical institutions on its e-commerce platform, and registered 8,000 plastic surgeons, 75% of whom offer their own service SKUs, resulting in an annual transaction volume worth hundreds of millions of yuan. It has emerged as a new traffic gateway for aesthetic medicine consumers, second only to search engines.

Xiang Xiaoqin, CEO of Yuemei, stated that as the platform’s influence on consumers (C-end) grows, medical aesthetics platforms are gradually entering a 2.0 era characterized by deep industry transformation—namely, strengthening optimization on the supply side (B-end) and integrating online and offline operations.

As a low-frequency consumption industry, medical aesthetics places high demands on the quality and experience of offline services. B-side medical resources, including both premium institutions and physicians, are relatively scarce. Meanwhile, traffic in the medical aesthetics industry is fragmented, with high customer acquisition costs, and the Matthew effect among vertical internet platforms is not pronounced. The unique characteristics of the medical aesthetics industry necessitate that platforms pursue business models that go beyond mere traffic referral.

Starting in the second half of 2016, YueMei launched an in-depth physician collaboration model to help high-quality doctors build their brands, acquire users, and establish reputation through the platform, thereby maximizing the productivity of scarce medical resources. To create a smoother user experience and establish an integrated online-to-offline (O2O) closed-loop system, YueMei independently built and operates its own offline medical aesthetic outpatient clinics—YueMei Haoyi. By applying new retail thinking, YueMei is pioneering the next phase of development in the medical aesthetics industry.

HaoYue Capital served as the financial advisor for this round of financing. With extensive experience in investment, financing, and M&A transactions involving offline chain medical institutions, its CEO, Liu Hao, believes that the medical aesthetics market is undergoing significant reshuffling and consolidation, with deep online-offline integration being the key direction. He considers YueMei to be the internet company that has most thoroughly implemented its localization strategy and achieved the best results.

Over six months of operations, Yue Mei Hao Yi has established a complete closed-loop ecosystem encompassing online ordering, appointment scheduling, in-person consultations, on-site treatments, online reviews, case sharing, and repeat purchases. It has also positioned its offline facilities as the first platform enabling physicians’ multi-site practice, thereby promoting the sharing and optimization of medical resources. Leveraging advantages in traffic acquisition, expert networks, and operational efficiency, Yue Mei Hao Yi achieved the remarkable milestone of breaking even within just half a year.

Furthermore, Yuemei disclosed that its financial data, which meets IPO criteria, has shown robust growth, and it will advance its domestic listing process in China based on market conditions.

Next, Yuemei will further deepen its efforts in digitalizing and standardizing medical aesthetic services, establishing a customer lifetime value system, and exploring the replicability of this model. In addition to building its own pilot projects, the company does not rule out deep cooperation with high-quality offline institutions in the future.

Meanwhile, Yuemei will continue to expand its platform advantages, strengthen the regional coverage of partner institutions, enhance community content development, and improve consumer stickiness and conversion rates, thereby providing partner institutions with higher-quality traffic and conversions.

Based on the two major business directions outlined above, Yuemei will primarily use this round of financing for team building, efficient and precise marketing promotion, and expanding its offline scale.