Shedul.com, the world’s fastest growing booking platform for salons and spas, has secured a US$20 million investment in its second funding round, valuing the company at US$105 million.
The Series B round, led by Partech, an investment firm with hubs in Paris, San Francisco and Berlin, brings the total amount raised by the London-based company to US$32 million.
Launched in 2015, the subscription-free booking platform now has more than “40,000 businesses and 150,000 stylists and therapists” using its software in over 120 countries.
In addition, a “staggering eight million appointments” at a value of over US$270 million are booked on the platform each month – and it is on track to “process US$6 billion worth of appointment bookings by the end of 2019”.
According to co-founders, William Zeqiri, and Nick Miller, the “hypergrowth” of the platform in the salon and spa industry can largely be attributed to its quality and “unbeatable accessibility”.
Zeqiri says the company has focused on solving major challenges to make its customers happy since Day One.
“Being customer-driven is ingrained into our team’s core,” he says.
“We spend much time talking to our customers and acting on their feedback, enhancing our platform to suit their needs. That’s how we’ve built an award-winning product that can sell itself.”
Miller adds that Shedul stands out in the salon and spa booking software market which is “crowded with legacy software providers who charge excessive fees to simply access their products”.
“We’ve re-invented the business model by offering our business software totally free of charge [there is no trial period and no limits on usage], and instead monetise online bookings made through our marketplace,” he says.
“This strategy helps us consolidate the industry, building up a vast global network of merchants for our marketplace. We solved the chicken and egg problem of reaching marketplace liquidity, letting us rapidly scale and monetise the network.”
Shedul.com plans to use the investment to accelerate product development and support the ongoing worldwide rollout of its Fresha.com consumer marketplace which connects “salon and spa businesses using the free business software to consumers online”.
“The beauty and wellness industry is at a tipping point transitioning to an online model, the new investment secures our forefront position in leading this global shift,” says Zeqiri.
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