Boulevard, a salon booking and payment platform based in Los Angeles, California, has secured $70 million in Series C funding led by Point72 Private Investments. Toba Capital, Index Ventures, Bonfire Ventures, BoxGroup, and VMG Partners also contributed to the investment round.
The capital will enable the business to expand into additional self-care sectors, speed up the delivery of new platform features, and raise its investment in engineering and development. Eddie Kang oversees Point72 Private Investments’ growth-stage investment activities and is now a member of the Boulevard board of directors.
Boulevard, introduced in 2016, attempts to modernize many salons’ obsolete client booking procedures. It provides a client experience platform explicitly designed for appointment-based, self-care businesses under the direction of co-founder and CEO Matt Danna.
“The raised capital will enable us to grow our product and engineering teams, enhance our platform, and fuel multi-dimensional expansion into new segments and verticals,” said Matt Danna, co-founder and CEO of Boulevard.
Through online appointment scheduling, messaging, and payments, the startup, recently named one of America’s Best Startup Employers for 2022 by Forbes, enables professionals and business owners to provide experiences to their clients.
Boulevard has more than doubled its crew size in the last year because of its dedication to a 100 percent remote workforce. More than 25,000 professionals work in 2,000 salons and spas around the country, and the firm currently processes more than $1 billion in payments yearly.
Boulevard plans to explore new self-care verticals
Boulevard posted a 188 percent year-over-year revenue rise in 2021 and more than tripled the size of its customer base, achieving historical growth. The organization’s well-known messaging and appointment scheduling features now include full payment facilitation capabilities.
The money comes as the self-care sector is reviewing its methods in the wake of the COVID-19 outbreak. As more customers prioritized self-care appointments like haircuts and skin treatments, Boulevard experienced considerable growth. By 2025, it is anticipated that the personal care and beauty business will be worth more than $1.4 trillion, and the spa industry will be worth more than $150 billion.
“As the self-care industry continues to grow, so will the role technology plays in creating seamless experiences that keep clients coming back. Not only has Boulevard designed an elegant and visionary platform that fills a pressing need in a fast-growing industry, but they’ve also built a thoughtful, customer-centric culture validated through world-class retention,” said Eddie Kang, partner of Point72 Private Investments.