Total amount raised
$202.1 Millions
Latest funding date
11/1/2024
Location
Squire has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive business management system tailored for barbershops, including tools for booking, scheduling, payment processing, and marketing management.
Keep reading to explore the intricacies of Squire's fundraising journey and the investors backing this innovative platform.
What Is Squire?
Squire, founded in 2015 by Dave Salvant, Songe LaRon, and Yas Tabasam, is headquartered in New York, New York. The company offers a comprehensive business management system specifically designed for barbershops.
With a team of 101-250 employees, Squire provides tools for booking, scheduling, payment processing, and marketing management. The platform aims to streamline operations and enhance business performance for barbershops nationwide.
By connecting clients with barbers through its app, Squire simplifies the process of finding, booking, and paying for haircuts or shaves, making it a valuable resource for both barbers and their customers.
How Much Funding Has Squire Raised?
- Seed Round
- Amount Raised: $4.3M
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Seed Round
- Amount Raised: $650K
- Date: October 2017
- Lead Investors: 43North
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further refine the platform and expand the customer base.
- Series A
- Amount Raised: $8M
- Date: April 2019
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series B
- Amount Raised: $27M
- Date: June 2020
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve customer acquisition strategies.
- Debt Financing
- Amount Raised: $7M
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series C
- Amount Raised: $45M
- Date: December 2020
- Lead Investors: ICONIQ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand into new markets.
- Debt Financing
- Amount Raised: $15M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for scaling operations.
- Series D
- Amount Raised: $60M
- Date: July 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and enhance technological capabilities.
- Debt Financing
- Amount Raised: $35M
- Date: November 2024
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive ongoing innovation and expand the platform's reach.
Total Amount Raised: $201.95M. Current Valuation: Not publicly disclosed.
Key Investors
- Silicon Valley Bank
- Details: Silicon Valley Bank (SVB) is a high-tech commercial bank that provides a range of financial services to companies of all sizes. It is a division of First Citizens Bank and operates in innovation centers throughout the United States.
- Investment Focus Areas: Technology, life sciences, healthcare, private equity, venture capital.
- Notable Investments: Pinterest, LinkedIn, Fitbit.
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm that invests in early-stage technology companies. The firm is known for its hands-on approach and long-term commitment to its portfolio companies.
- Investment Focus Areas: SaaS, mobile, social media.
- Notable Investments: Starbucks, New Relic, Zulily.
- ICONIQ Capital
- Details: ICONIQ Capital is a privately held investment firm that serves influential families and organizations. The firm provides financial advisory and family office services.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Airbnb, Uber, Alibaba.
- CRV
- Details: CRV, formerly known as Charles River Ventures, is a venture capital firm that invests in early-stage technology companies. The firm has a strong track record of successful investments.
- Investment Focus Areas: Software, internet, communications.
- Notable Investments: Twitter, DoorDash, Zendesk.
- 43North
- Details: 43North is a startup competition and accelerator program based in Buffalo, New York. It provides funding, mentorship, and resources to high-growth startups.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: ACV Auctions, SomaDetect, TARA.ai.
What's Next for Squire?
With $35 million in new debt financing from Silicon Valley Bank, Squire is poised to expand its platform and drive innovation. The opportunity to streamline operational efficiency and grow revenue for barbershops is immense, given the increasing demand for comprehensive business management tools in niche markets.
Future fundraising opportunities seem promising as Squire continues to attract interest from investors. However, challenges such as competition from other platforms and the need to maintain technological advancements could pose hurdles. Ensuring data security and managing rapid growth will be crucial as Squire scales its operations.
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