CLEO is a four-wall beauty concept fundamentally rethinking the skincare experience — combining clinical-grade technology with consumer-first design to make cosmetic laser as approachable and routine as a trip to your local coffee shop.

How we met   

One of our LPs reached out to us with an exciting opportunity in the cosmetic dermatology space. Knowing that the round was moving quickly, we jumped in to learn more. We were particularly encouraged to see the cap table forming through a strong collaboration among several highly respected funds in the space.

What clicked

We were intrigued by initial conversations with CEO and co-founder Brian DeRosa, formerly of Blank Street Coffee, given his background in growing customer-led, four-wall businesses. His background in scaling a major brand in physical spaces impressed us as did his experience in building a modern approach to customer service. Our next meetings with CEO and co-founder Amber McMillan doubled down our confidence in the business, given her capabilities and impressive tenure with Life Time Fitness, which furthered the proposition in our eyes to be differentiated in its maniacal focus on customer experience. 

Why we committed 

CLEO is a clear expression of what we love at Bullish: a team that’s tuned in to an emerging behavioral shift, paired with the executional strategy to create a category-defining brand. Laser facials are becoming the logical next step for educated skincare consumers who continue to raise the bar on efficacy. 

CLEO meets this new demand with clinical results at a time when most traditional beauty brands are still selling “hope in a jar.” Add to that a service model designed around transparency and zero-stress experiences – and CLEO becomes not just a new option, but ultimately a new standard. 

By planting roots in Middle America, where the broader U.S. demographic truly lives, shops, and behaves, CLEO is pressure-testing its proposition in the market that will help them reach critical mass. 

Brian and Amber’s complementary strengths, in scaling consumer-first four-wall concepts and leading high-touch provider mentalities in wellness services, make us confident that CLEO can not only scale, but also endure. 

Why CLEO will become a big brand

The beauty and wellness market is undergoing a seismic shift: consumers now expect clinical-grade results without the high friction of traditional medical settings. Laser skincare is one of the few categories that offers that promise – and it's still massively underpenetrated. The current U.S. spend on energy-based aesthetic services is ~$5 billion annually and projected to triple by 2032. Yet the consumer experience remains stuck in an outdated, high-friction model.

By streamlining offerings, investing in transparent tech-enabled booking, and focusing on no-downtime treatments, CLEO is rebuilding the experience from scratch and unlocking demand among a broader, everyday consumer base.

CLEO is set up to be a scaled national player, not another fragmented medspa chain. As the brand expands into markets like Nashville, Detroit and Atlanta, CLEO is primed to become the national brand synonymous with effective modern skincare.

Watch Bullish Managing Partner Tom Balderston in conversation with CLEO Co-Founders and CEOs Brian DeRosa and Amber McMillan. 

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