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Booking Software Boulevard Lands $70 Million Series C

August 17, 2022
August 17, 2022
Greg Trowman via Unsplash

Boulevard raised $70 million in Series C funding to continue revolutionizing the client experience for spas and salons.

WHO: Boulevard is the premier salon and spa management platform designed to streamline operations, increase sales, and delight customers. Developed in collaboration with industry-leading owners and operators, the company's all-in-one platform includes client self-scheduling, CRM, marketing, custom reporting, and integrated payment processing. Boulevard delivers an intuitive, modern SaaS solution to an industry traditionally underserved by technology, helping them unlock their full potential. Boulevard is based in Los Angeles and was founded in 2016 by Matt Danna and Sean Stavropoulos.

WHY: The new capital will enable the company to increase its investment in engineering and development significantly, accelerate the delivery of new platform capabilities, and drive expansion into new self-care verticals.

IN THEIR OWN WORDS: "We couldn't be more excited about the opportunity to work with Eddie and the team at Point72 Private Investments," said Matt Danna, co-founder and CEO, Boulevard. "With today's news, we've not only raised capital that will enable us to grow our product and engineering teams, enhance our platform, and fuel multi-dimensional expansion into new segments and verticals, but we've also added a partner that deeply understands our industry and our business. It's a great day for Boulevard, our team members, and most importantly, our customers."

"As the self-care industry continues to grow, so too will the role technology plays in creating the seamless experiences that keep clients coming back," said Eddie Kang, partner, Point72 Private Investments. "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. We're excited to support the Boulevard team as they continue to grow."

DETAILS:

  • Boulevard raised $70 million in a Series C funding round led by Point72 Private Investments with participation from Toba Capital, Index Ventures, Bonfire Ventures, BoxGroup, and VMG Partners.
  • In conjunction with the investment, Eddie Kang, who leads growth-stage investment activities for Point72 Private Investments, joins Boulevard's board of directors.
  • Boulevard achieved record growth in 2021, more than tripling the size of its customer base and posting a 188% year-over-year increase in annual recurring revenue. 
  • The company also added full payment facilitation capabilities to the robust appointment scheduling and messaging functionality for which it's known. 
  • Boulevard now processes more than $1 billion in payments annually, and more than 25,000 professionals in 2,000 salons and spas across the nation rely on its platform to deliver personable experiences to their clients through online appointment scheduling, messaging, and payments that are simple and reliable.
  • In November 2020, Boulevard raised $27 million in Series B funding, co-led by Index Ventures and Toba Capital, with participation from VMG Partners, Bonfire Ventures, Ludlow Ventures, and BoxGroup.
  • In November 2019, the company raised $11 million in a Series A round from investors including Index Ventures and Bonfire Ventures.
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