Musely, a US-based direct-to-consumer telemedicine platform focused on compounded treatments for skin, hair, and menopause care, raised over $360 million in non-dilutive funding from General Catalyst’s Customer Value Fund (CVF) as of early May 2026 [1].
Founded in 2014 initially as a wellness community, Musely shifted its business model to prescription skincare in 2019. Since then, it has expanded rapidly, serving over 1.2 million patients and growing its revenue at an average annual rate of 50% [1].
Jack Jia, co-founder and CEO of Musely, highlighted the company’s long-standing financial health, saying it has been cash flow positive for several years. Jia explained he had previously rejected venture capital offers to avoid diluting ownership stakes [1].
The financing deal with General Catalyst departs from traditional equity or loan arrangements. Instead, it uses a revenue-share-like structure with a fixed, capped percentage of Musely’s revenue allocated to repaying the capital raised. Jia said, "When I mathematically modeled it, I found this absolutely compelling" [1].
Musely’s CEO also shared that as the company grows toward a billion-dollar revenue figure, it will require additional capital to support continued expansion. "When you become a billion-dollar revenue company, you need another billion in order to grow to the next billion," Jia said [1].
Last year, investors from General Catalyst’s CVF approached Jia to discuss funding options. The agreement has now been finalized and publicized, with TechCrunch reporting on May 1, 2026 [1].
Musely remains focused on expanding its telemedicine platform for compounded treatments and expects to use the new financing to accelerate growth amid increasing patient demand.