Funding profile · Consumer dermatology
MDalgorithms
A venture backed direct to consumer dermatology company with four named Silicon Valley investors, two revenue growth rankings, and not one document in SEC EDGAR.
$6MTotal raised to date, third party aggregator estimate
0Form D filings on record with the SEC
1,178%Revenue growth 2018 to 2021, Deloitte Technology Fast 500
$1MMonthly paid acquisition spend named in a 2026 job posting
Data as of September 24, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Jun 2016 | Pre-funding | None | “The company is self-funded at the moment and is looking to raise its first external investing rounds by the third quarter of the year” | Press interview |
| 2017 | Y Combinator, batch listed as W17 | Not disclosed | Y Combinator | YC data |
| 2017, as dated by an aggregator | Seed | Undisclosed | Khosla Ventures, Y Combinator; three institutional investors in total | Aggregator |
| Jan 2018 | Backers named at product launch | Not disclosed | Y Combinator, Khosla Ventures, SV Angel | Company release |
| Aug 2022 | Seed round, new participant | Not disclosed | Moxxie Ventures | Investor memo |
| Cumulative to 2026 | All rounds | $6M | Not itemized; latest round on record described as Seed | Aggregator |
| 2017 to 2026 | Federal grants | None found | No NIH or NSF award to MDalgorithms in the records pulled | NIH, NSF |
What the filings show
SEC EDGAR full text search · run Sep 24, 2026
- Queries
- MDalgorithms; MDacne; MDhair; MD Algorithms
- Documents returned
- 0 for every query
- Form D
- None on file
- Issuer CIK
- No registrant found
- Related persons
- Not on record; no board composition is disclosed anywhere in the public filings
- Exemption
- Unknown. Regulation D was either not used or not noticed
- Filing
- SEC EDGAR, efts.sec.gov full text search
Reading the filings
- No Form D does not mean no money.Regulation D is one path. An issuer selling to a small number of accredited buyers under Section 4(a)(2) files nothing, and Y Combinator style instruments often move that way. The practical consequence is that the $6M aggregate figure carried by data providers has no filed document behind it, and no first sale date, no offering size and no investor count can be checked.
- Four investor names, zero disclosed dollars.The company itself named Y Combinator, Khosla Ventures and SV Angel in its January 2018 launch release. Moxxie Ventures published its own memo in August 2022 announcing its investment in the seed round. Every one of those is a name without a number.
- The growth signal is revenue, not capital.Deloitte placed MDalgorithms on the 2022 Technology Fast 500 with reported revenue growth of 1178% from 2018 to 2021, top 25 in life sciences. Inc. ranked it No. 1,629 on the 2026 Inc. 5000. Both lists rank by multi year revenue growth, so both imply a real and compounding revenue line. Neither publishes the dollars.
- The ad budget is larger than the venture total.A June 2026 posting for a head of growth describes a paid acquisition engine spending approximately $1M per month across the three brands. Annualized that is about $12M of media, roughly twice the $6M an aggregator says the company has raised in its life. Spend at that ratio is funded from gross margin, not from a cap table.
- The cost base is thin.One aggregator puts the company at about 10 people on record, and the current openings are remote. There is no research organization here: eight products are listed with the FDA under monograph and generic drug pathways, which means formulation and fulfillment rather than trials and submissions.
- No public money.No NIH grant and no NSF award to MDalgorithms turned up in the federal award records pulled for this profile. There is no non-dilutive layer under this company, which is unusual for a healthcare name and ordinary for a consumer one.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Regulatory | Eight FDA drug listings under labeler MDalgorithms: six OTC monograph creams and a cleanser, two minoxidil solutions under ANDA076239 and ANDA078176. No 510(k) or PMA. | Public record |
| Brands | Three: MDacne (acne), MDhair (hair loss), Nuvane (anti-aging), all subscription direct to consumer. | Company-stated |
| Reach | MDacne “has been used by more than 4 million people to analyze and treat their skin”. For MDhair, “we’ve already helped over one million users analyze their scalp and hair condition”. | Company-stated |
| Third party ranking | In a 2024 JAMA Dermatology survey of 41 AI dermatology apps, MDacne carried the highest store rating counts in the sample, 4,340 and 18,000. | Independent |
| Clinical | One peer reviewed trial, J Drugs Dermatol, March 2025: 38 women enrolled, 27 completed, hair only. No acne or anti-aging publication found. | Public record |
| Pricing | Shop kits at $56, single treatment creams at $24, dark spot product at $59; quiz subscribers are offered a first kit free plus shipping from $9 against a stated $58 value. | Company-stated |
| Recognition | Deloitte Technology Fast 500 in 2022, BeautyMatter best use of technology in 2025, Inc. 5000 in 2026. | Independent |
What to watch
- A first Form D. It would be the first time this company’s capital structure appears in a filing.
- Whether the $6M aggregate figure is ever confirmed, corrected or superseded by a disclosed round.
- Whether the roughly $1M per month of paid media holds, since that number is the closest public proxy for revenue.
- Whether Nuvane, launched in 2026, is financed inside the existing entity or spun into its own raise.
- Any acne trial. The largest brand is the one with no published clinical evidence.
The MDalgorithms story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordSEC EDGAR full text search, zero documents for MDalgorithms, MDacne, MDhair
- Public recordopenFDA NDC directory and DailyMed listings for labeler MDalgorithms
- Public recordNIH and NSF award records, no award to MDalgorithms
- Public recordArtificial Intelligence-Based Personalization of Treatment Regimen for Hair Loss
- InvestorAnnouncing our Investment in MDalgorithms
- IndependentPhone app seeks to bust acne using selfies and algorithms
- IndependentMDalgorithms is a 2026 Inc. 5000 honoree, No. 1,629
- AggregatorMDAlgorithms funding rounds and investors; total raised and headcount
- IndependentCurrent State of Dermatology Mobile Applications With Artificial Intelligence Features
- CompanyMDacne Launches Mobile Acne Analysis, Combined With Customized Acne Medications
- CompanyMDalgorithms Recognized by Deloitte Technology Fast 500
- CompanyHead of Growth posting describing paid acquisition spend and brand lineup
- CompanyMDacne reference and pricing pages, MDhair pages, Y Combinator launch post
Compiled from SEC, FDA, NIH, NSF and other public records and published reports as of September 24, 2026. Form D notices report offerings under Regulation D; no such notice exists for this issuer, and an absence of filings is not evidence that no securities were sold. Healthcare Venture Capital Fund holds no position in MDalgorithms. This page is not an offer to sell or a recommendation to buy any security.