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Musely Gets $360M Non‑Dilutive Funding from General Catalyst

Musely, a direct-to-consumer telemedicine platform specializing in compounded treatments for skin, hair and menopause care, has secured over $360 million in non-dilutive capital from General Catalyst’s Customer Value Fund (CVF). The financing is structured like a revenue-share alternative — not equity and not a traditional interest-bearing loan — allowing Musely to fund sales, marketing and customer-acquisition efforts without diluting ownership. Musely, founded in 2014 and pivoted to prescription skincare in 2019, says it has been cash-flow positive for years, is growing revenue roughly 50% year-over-year, and has served over 1.2 million patients. Musely previously raised $20 million in 2014 and had not taken equity since. CVF’s portfolio includes companies such as Grammarly, Lemonade and Ro.