2025 was a slower year than most in recent memory when it came to beauty fundraising.

TikTok-viral lip stain brand Wonderskin’s $50 million Series A round led in May by Insight Partners was the category’s biggest raise globally, data from Pitchbook shows, with salon and spa provider PS Lifestyle coming in at number two in the U.S. with a $21.6 million raise in February.

Other raises of note this year included OneSkin, the biotech skin longevity brand that doesn’t yet have retail distribution but raised $20.4 million from Prelude Growth Partners, and cosmetics brand LYS Beauty, which sells at Sephora and TikTok Shop and raised $15 million from Encore Consumer Capital in the brand’s first fundraising round in March. Wonderskin, too, sells on TikTok Shop, and launched at Sephora this Se

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