DUBLIN — Vagaro, operator of a business management platform for the salon, spa and fitness industry, has raised a $63 million growth equity round, its first institutional capital, led by FTV Capital. The company will continue to invest in cloud-based, industry-specific technology to help businesses of any size optimize operations, reduce complexity and seamlessly process payments. In addition, Vagaro will expand its sales and marketing team and geographic footprint. Vagaro will benefit from FTV’s Global Partner Network, which includes executives from the world’s leading financial services and payments companies, and the firm’s experience in scaling high growth companies that operate in specialty industry verticals.
Vagaro’s platform provides salon, spa and fitness business owners with a powerful and comprehensive suite of back-office and consumer-facing business management software solutions, including appointment booking, calendaring, client management, marketing, reporting, payroll, inventory management and payment acceptance.
In addition to automating and streamlining business processes, Vagaro connects businesses to consumers who are searching for spa, salon and fitness services via Vagaro.com, an online marketplace, and via the easy-to-use Vagaro booking app.
“I feel privileged to have led Vagaro’s talented team for the past 10 years. Our company has completely transformed — moving from delivering industry-changing salon software technology to offering a full suite of industry-specific business management solutions coupled with a powerful online marketplace,” said Vagaro founder and CEO Fred Helou. “Vagaro’s partnership with FTV Capital opens up exciting new possibilities for us, including the expansion to additional international markets, and will usher in a new chapter in the company’s growth story. Thanks to our compelling price point and newer technology, we are perfectly positioned to compete against slow-moving, more traditional industry players.”
“We are energized by our new partnership with FTV Capital, a firm that has helped many high growth companies, like Vagaro, build on their success to best meet customer needs,” said Kerry Melchior, Vagaro’s chief of operations. “Our near-term plans include expanding the range of payment solutions and digital functionality for our clients, while continuing to deliver the highest quality, easiest to use solutions with superior customer service.”