Beauty tech start-up Watalook landed $1 million in pre-seed to revolutionize business for independent beauty professionals with its digital assistant.
WHO: Launched in April 2020, Watalook is a Lithuanian-based beauty tech start-up designed to empower and help independent beauty professionals grow and manage their businesses more efficiently, build stronger relationships with their clients, and become a voice that matters. Watalook provides a platform for 24/7 online client self-booking, a smart calendar, and automated text reminders for appointments; collects client and appointment data; provides insights; and saves up to 22 hours per month. All client data belongs to a beautician, not a beauty salon.
WHY: According to the company, the US beauty services market is worth $66 billion and employs over 706K beauty professionals, of which 70% work as independent contractors as compared to only 20% in 2011.
IN THEIR OWN WORDS: The data shows that the number of beauty professionals trusting the Watalook digital assistant to manage their beauty businesses is growing by leaps and bounds. “We see a steady >30% month-over-month growth in the number of beauticians using Watalook, and consequently growing appointments booked through the platform by +34%," shares CEO and co-founder Klaudijus Ambrozas. "This success couldn't be achieved with a merely good product, culture is what makes it vanguard and resonates with Gen Z's approach to life and digital nativeness."
"Working with young beauticians' generation we see that more than anything else, they seek financial health, recognition, close relationships, and a chance to become the voice that matters, thus big chunk of the $1M investment will be dedicated to personalized beauticians' digital marketing campaigns that will not only help to expand each US beauty rockstar's clientele and generate more revenue, but will also make their voice louder and relationships with their clients, stronger," adds the CXO and co-founder Justas Vitenas.
"We have seen remarkable growth of the company since we did our first investment almost a year ago. And these numbers prove to the public what we see firsthand—the team behind Watalook knows the market in and out, completely feels the vibe of Gen Z clients, and have the tools, knowledge, and guts to reach it. Excited to be part of this would be an understatement," says Jone Vaituleviciute, Partner at Startup Wise Guys.
"Watalook has the right team and product to transform the beauty industry. We believe that beauticians should have full control of their hard-earned money and the data tied to it," says Ryan Gilbert, founder of Launchpad Capital. Watalook is the second European start-up that has received an investment from Launchpad Capital for an expansion to the US.
- Watalook raised $1 million in the pre-seed round co-led by Startup Wise Guys, Crosspring, Launchpad Capital, and angel investors.
- Year-to-date number of beauty professionals using Watalook digital assistant has outperformed 2020 by +317%, with the majority of the growth being achieved organically.
2 Article(s) Remaining