Monday, September 20, 2021

Squire Valuation Triples to $750 Million

A resident of Cream Ridge, New Jersey (NJ), Edward Granaghan , finds what Squire co-founders have accomplished in the past few years very impressive.

CEO Songe LaRon and president Dave Salvant founded Squire Technologies in 2016. A barbershop tech platform, the business has a staff of 175 and is used by more than 2,000 barbershops. It makes software for these businesses that aid in such things as managing customer payments and coordinating client scheduling. While the COVID-19 stay-at-home orders did negatively impact Squire’s revenues, the business has been steadily growing as barbershops resume operations and enjoy increasingly higher occupancy allotments.

Unsurprisingly, Squire announced an increased valuation in July 2021. Thanks to a new round of funding, its total valuation rose to $750 million. This increase happened less than a year after the last round of venture funding that Squire pursued and resulted in the company’s total valuation tripling. Tiger Global led the new Series D round of funding, which included participation by Trinity Ventures, Iconiq, and CRV.