GlossGenius Raises Another $28M for Salon & Spa Software
L Catterton led the equity round that brings the beauty and wellness tech company’s total funding to roughly $70 million.
GlossGenius has secured $28 million in a Series C for its business-in-a-box platform for small businesses in the beauty and wellness industry, its second funding round in the last 12 months, bringing the company’s total funding to roughly $70 million.
L Catterton led the equity round, which included participation from Bessemer Venture Partners and Imaginary Ventures. The additional funding will be used to develop additional products and accelerate the GlossGenius platform.
The all-in-one business management solution has cornered the wellness and beauty space, assisting small business owners with managing operations and building their businesses. Targeting this sector has paid off, as GlossGenius reports its business has grown by triple-digit percentages in the last year.
“Large shifts in the beauty and wellness industry have provided a significant opportunity for vertical operating systems to create unprecedented value,” said Danielle Cohen-Shohet, CEO and co-founder of GlossGenius. “We have been helping our business customers grow revenue by 25 – 100% and save hours of manual work every single day, driving financial success for local entrepreneurs.”
Unlike other software services, GlossGenius offers fast client booking and management without a client needing to sign up, create an account or log into the platform. It also serves as a payment gateway and provides built-in marketing solutions. Business owners can even customize the aesthetic of the platform to suit their branding.
Cohen-Shohet, a Princeton grad who worked in finance at Goldman Sachs, co-founded GlossGenius with her twin sister, Leah Cohen-Shohet, in 2016 to create a concierge experience for those booking appointments. Danielle Cohen-Shohet was named an EY Entrepreneur of the Year earlier this spring.
“Given our deep expertise in beauty and our investments in disruptive software businesses across consumer verticals, we see a compelling opportunity to serve these businesses with better and more powerful tech,” said Ian Friedman, a partner in L Catterton’s Growth Fund. “The overwhelming enthusiasm displayed by GlossGenius’ customers is a testament to the product’s excellence and the company’s position as the go-to platform in the industry.”
