Monday, February 14, 2022

Barbershop-Focused Technology Firm

Cream Ridge, NJ resident Edward Granaghan keeps abreast with upcoming companies that use technology to make everyday activities more efficient.. Among the companies that is very impressive in addressing the inconvenience and wait times while getting a haircut is Squires Technology.

Squire's app has made getting an appointment at a local barbershop so easy and convenient, it was able to raise $60 million in July 2021 in its latest round of funding. It increased the firm’s total funds raised to $165 million and tripled company valuation to $750 million. The proceeds are to continue to scale its engineering and sales team. Tiger Global led the round of funding, which included existing investors ICONIQ Capital, Trinity Ventures, and Charles River Ventures. Before the fundraising, the company had already grown, catering to more than 2,000 partners, spanning three continents, in 40 primary markets.

Founded in 2015, Squire offers full-scale barbershop management, including CRM, scheduling, payroll, and more, along with a POS system allowing its clients to scale their business while lessening the time needed for back-office operations. The platform serves stand-alone locations, independent professionals, and multi-location franchises.