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Booking Platform Booksy Raises $70 Million

June 30, 2021 BeautyMatter
June 30, 2021
Booksy

Booksy has raised $70 million to bring its beauty and wellness appointment booking app to even more salons and customers across the US, UK, and EU.

WHO: Booksy was founded by Polish serial entrepreneurs Stefan Batory and Konrad Howard in 2014 with a mission to take the hassle out of scheduling beauty and wellness appointments. Booksy solves the challenges of day-to-day operations for service providers, empowering small business owners across the globe by providing them with the tools they need to successfully run their businesses. Instead of spending time returning missed calls or text messages, service providers can focus on their craft.

WHY: The Series C round will be used to support fast-paced expansion plans across North America.

IN THEIR OWN WORDS: “At Booksy, our mission is to bring peace of mind to scheduling, giving time back for living life fully,” said founder and CEO Stefan Batory. “Like with many sectors negatively hit by the pandemic, it’s been a turbulent time for the beauty and wellness industry, but we’re confident in its ability to come back from this, so it’s fantastic to see our latest group of investors share our optimism and vision. This latest round of funding enables us to reach even more salons and service providers across the US, and in all the regions we operate, which in turn helps them reach more customers. Providing a cost-effective way to offer, manage and increase digital bookings, reduce no-shows and give customers what they want could help make small businesses and entire industries more resilient.”

Alex Captain, founder and managing partner at Cat Rock Capital, said, “We are incredibly excited to invest in Booksy as it builds the leading global software platform for digitizing the beauty and wellness industry around the world. We have followed Booksy’s development closely for the past four years and could not be more impressed with the progress Stefan Batory and the Booksy team have made in positioning the company for leadership in this market.”

Pierre Siri, operating partner at Sprints Capital, said, “In a competitive space, Booksy has emerged as the clear leader. With more than 13 million customers, not to mention the thousands of service providers that are saving time and increasing their revenue through the platform, Booksy is transforming beauty from a paper-led industry into one that is digital-first. I’m delighted to work closely with Stefan and the wider Booksy team on the next stage of the business and I can’t wait to see how the business grows to support more providers and customers across the globe.”

Chicago-based nail technician and Booksy user Spifster Sutton said, “Booksy has been a life-changer for me. It works through the night, while I sleep, while I’m on vacation, while I’m working. It’s everything that I would need an assistant to do. Just input your information into the system and it works on its own. The clients, they love it. It’s the easiest app I’ve used since I’ve been doing nails for 12 years. A complete lifesaver.”

Chicago-based salon owner and Booksy user Sam Carter said, “I don’t have to be on the phone all the time replying to clients. They see the services, they see my availability, they see the prices so everything is transparent. Getting that balance in the business really helps with your sanity. Booksy makes me accessible to my clients 24/7 without having to be accessible.”

DETAILS:

  • The $70 million Series C round was led by Cat Rock Capital, with participation from Sprints Capital. The funding round, which also saw funding from OpenOcean, Piton Capital, VNV Global, Enern, Kai Hansen, Zach Coelius, and Manta Ray Ventures, makes it one of the largest-ever Series C investments for a Polish-founded company. It takes the total raised by the firm to $119 million.
  • This investment comes off the back of a 1,500% revenue increase over the past three years. Booksy is available in seven regions and has 13 million consumers actively using the app.
  • Using Booksy results in 38% of customers booking after hours and increasing visit frequency by 20%, which in turn generates more revenue for the service provider. Data also suggests that by implementing Booksy’s software, service providers can save the equivalent of 12 working days a year, on average.
  • Macquarie Capital acted as the exclusive financial advisor to Booksy.
  • In December 2020, Booksy merged with Versum, a leading competitor in Poland.
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