- Squire Technologies — the fastest-growing small business management platform serving the men’s grooming segment — announced it recently raised $8 million
Squire Technologies is considered the fastest-growing small business management platform serving the men’s grooming segment. Recently, Squire Technologies announced it raised $8 million in Series A funding. Including this round, Squire has raised $12.2 million total.
With this round of funding, Squire is going to accelerate investment in research and development, recruit product and engineering talent, and expand the company’s market presence.
The round was led by Trinity Ventures with participation from new investor 645 Ventures, as well as existing investors Y Combinator, Bluefog Capital, Altair Capital, and New General Market Partners (Richelieu Dennis).
Previously, Squire raised $4.2 million in seed funding from 43North and notable angel investors Y Combinator CEO Michael Seibel, serial entrepreneur Paul Judge, Gmail creator Paul Buchheit, and former Facebook executive and Global VP of TikTok Blake Chandlee.
What does Squire do? Squire’s business management and payments platform help appointment-based small and medium-sized businesses (SMBs) streamline operations, improve customer service, and grow revenue thus bringing a fully operational and modern technology infrastructure to a segment traditionally underserved by software.
Squire also offers a best-in-class platform to the 400,000+ barbershops and men’s salons in the U.S. and Canada. And Squire currently services customers in 28 major cities across three countries.
Last year, Squire grew 400% and in the past two years, the company accumulated over 3 million end users and processed more than $100 million of transactions.
“Squire enables our team to streamline operations in a way that wouldn’t be possible with other software,” said Nicky Prosseda, owner of the popular Modern Male Barbershop, which has five locations in Pennsylvania. “Thanks to Squire’s focus on the unique needs of barbershop owners, I am able to make data-driven decisions to take my business to the next level.”
Currently, Squire offers a full suite of features built specifically for barbershops and it can handle everything from appointments and payments via white-labeled mobile apps to back office operations like point of sale, payroll, and inventory. For its barbershop clients, the Squire app offers the ability to discover barbershops in their area, book services, process payment and handle gratuity all within the app. This eliminates friction from the booking and purchase experience and improving retention by an average of 13% within the first two months.
Following successful careers in law and finance respectively, Squire founders Songe LaRon and Dave A. Salvant owned and operated a high-end barbershop in Manhattan so that they could better understand their target customers before launching Squire.
“The unique needs and challenges of small businesses require truly verticalized software that is both affordable and scalable. Barbershops represent the type of fragmented small business that has typically been overlooked by technology. We believe there’s a massive opportunity in delivering customized solutions to these traditionally underserved segments,” said Squire co-founder and CEO Songe LaRon.
“Squire has done a phenomenal job of creating a delightful user experience for both small business owners and their customers. They are making payments disappear on both sides of a complex, multi-step transaction, and they are bringing innovative Silicon Valley technology to the SMB ecosystem,” added Schwark Satyavolu — general partner at Trinity Ventures and a member of Squire’s Board of Directors.
Launched in 2015, Squire Technologies now has offices in San Francisco, New York City and Buffalo, NY. And it maintains operations in 28 major cities across the U.S., Canada, and the United Kingdom. And Squire is a Y Combinator-backed company and is a 43North award recipient.
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