October 17, 2022
New-York based business management platform, GlossGenius raised $25 million in a Series B funding round led by Imaginary Ventures and Bessemer Venture Partners. With over 40,000 customers in the beauty and wellness space, GlossGenius’ target market includes nail artists, estheticians, makeup artists and barbers.
GlossGenius adopts a vertical SaaS strategy, as CEO and co-founder Danielle Cohen-Shohet emphasizes, “small businesses have specific needs and need technology built just for them to be successful [...] it isn’t one size fits all. I think we’re in the middle of a renaissance for SMB tech”.
GlossGenius automates administrative aspects that are specific to the salon and spa industry. For example, it expedites appointment booking processes with built-in reminders. As a personalized touch, GlossGenius sends custom follow-up messages tailored to individual clients’ special occasions and milestones. In addition to managing client relations, GlossGenius saves business owners approximately 8 hours a week by capturing key data such as client re-booking rates coupled with producing inventory and sale tax reports.
GlossGenius plans to use its newly acquired capital to invest in developing fintech functions, and new product developments. It will be exciting to track the company's growth as it continues to generate digital solutions that help beauty professionals optimize their time and customer service.
Author: Samantha Melhado