The beauty industry has recently seen a blast of offers. Grahk can now access more treatment than basic hair and nail care, removing sliced botoxes and fillers to permanent laser hair and even from GLP-1 drugs to manage weight.
Riding on this wave of industry growth is a bouquet, which provides schedule and payment software for the self -care sector.
The nine -year -old Boulevae has just collected 80 million Million in Series de Funding, which was given a $ 800 million worth of business, which is a meaningful increase from a $ 595 million diagnosis received three years ago. The period was led by Growth Equity Firm JMI Equity and included the participation of current investors index ventures and VMG partners.
When Bouvervae launched in 2016, the company’s co -founders, Matt Dinah and Sean Storoploos wanted to solve something that seemed like an easy problem: allows people to book hairstyles online.
The pair did not understand that the salon still called the clients for appointments. What they discovered was that the salon was deliberately resistant to online scheduling: they were trying to improve the time of stylists.
Therefore, Bouvervard has created a machine learning -based booking system that considers various obstacles, such as the history of clients’ unique service needs and time restriction.
The company initially sold its precision scheduleing software to the hair salon, which spread to parlors and nail salon massage.
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In the past three years, Bowwar’s revenue has increased by more than 500 %, partially driven by a new client class: Med Spas. These businesses, which are a hybrid between the traditional day spas and the medical clinic, provide non -surgical, minimal invasive procedures, from micronalding and botox to weight loss, from Ozampic to Ozampic.
Dana, who served as the CEO of Bouver, said she was surprised for the first time that Med SPA owners are interested in using the company’s software rather than the electronic medical records system (EMRS). He discovered that EMRs clients are good for billing insurance, while Med Spas operates primarily on the cash salary model.
Dana said it was straightforward to mold Bowwar’s software to Medpas. This company became specific features according to HIPAA and integrated MedsPa, including visual charts for precise botox and filler injection mapping.
Three years after introducing these features, Bouververs estimates that it is taking about 15 % of all Med Spas in the United States
“I’m really impressed with how the lines of beauty and medical services are fading,” Dana said. “We have hair salons that offer Med SPA services.”
Over the years, Bouververs increased its offer to include an online payment system, a business that offered the company stumbled unexpectedly. “We have learned that if you make it easy to book an online, it is easy to show for a meeting,” Dana said. “So, we began to occupy credit cards to hold appointments, and it solved the problem of nun shows.”
Although Bouververs initially had no plans to charge these credit cards, consumers requested the company to use data for the transaction. Boulevar now estimates that this year it will be about $ 5 billion.
Of course, Boulevae has a lot of competition, including Zenoti, worth $ 1 billion in 2020, Freshia, Bockey, and many others.