DUBLIN, California – (BUSINESS WIRE) – Vagaro, the main cloud-based enterprise administration platform for magnificence, health and wellness corporations, introduced in the present day that it has initiated a brand new spherical of funding led by FTV Capital, which beforehand invested within the firm in 2018 . The precise phrases of the funding should not disclosed. According to Vagaro’s development, this new financing will worth the corporate at $ 1 billion.
With FTV Capital’s funding, Vagaro will concentrate on constantly growing instruments for companies to guide appointments, handle stock, accumulate hire, run payroll and extra to create a one-stop store for an organization’s IT must be. Vagaro just lately added bank card processing capabilities in Canada, Australia and the UK and targeted its efforts on constructing market share in these nations in addition to america. Vagaro plans to serve extra worldwide markets in 2022.
Vagaro has helped its clients’ gross sales develop greater than 105% prior to now 12 months, whereas clients promote virtually 15% extra on common than they did earlier than COVID. In comparison with different options available on the market, Vagaro clients maintain saying they benefit from the depth of performance, ease of use and decrease value. Vagaro’s la carte pricing mannequin makes the product reasonably priced for companies of all sizes, and its sturdy instruments permit smaller companies to be simply as environment friendly {and professional} as a lot bigger corporations.
“We’re enthusiastic about Vagaro’s success over the previous three years as the corporate has continued to achieve market share by placing its clients first and delivering modern, reasonably priced merchandise that assist enterprise house owners drive sustainable development,” stated Robert Anderson, accomplice at FTV Capital. “Fred and his crew did a wonderful job delivering their imaginative and prescient, and since we have now great potential to serve the $ 10.5 billion well being and wellness market that lies forward, we look ahead to persevering with to work collectively. after we start this essential subsequent part of development. ”
FTV Capital was significantly impressed with how Vagaro dealt with the pandemic, which posed an existential risk to its clients. By placing its clients first, Vagaro not solely survived, however gained a document variety of new clients throughout that point. Vagaro has transitioned from serving to companies like gyms guide in-person courses to livestreaming greater than 313,000 courses – an essential new supply of revenue at a time when clients could not come by in individual.
“In response to the shift away from printed books to on-line reserving, Vagaro has been supporting small companies and impartial service professionals with our know-how options for over a decade to assist them effectively meet their enterprise targets,” stated Fred Helou, Founder and CEO of Vagaro. “This was very true in 2020 as our platform performed an essential position within the well being and security of our clients through the Covid-19 pandemic, the place we had been capable of present a well being and security documentation administration perform, in addition to a number of different capabilities that it will permit them to do made it attainable to do enterprise safely. ”
Vagaro’s roadmap for product enchancment, worldwide growth, and continued world-class buyer assist is aligned with a plan for continued robust development, and this important funding supplies the assets to make sure it does so.
“FTV continues to be a accomplice with added worth that brings important know-how, business launches and operational assist. As such, they had been the one monetary sponsor we thought-about for this spherical, ”stated Helou. “We’re very proud to have achieved unicorn standing. Assist from FTV will assist us proceed our mission of being an all-in-one resolution for small companies within the magnificence, health and wellness industries. We’re happy that each firm in these industries has the possibility to expertise our first-class product and our customer support. ”
About Vagaro
Vagaro, Inc. develops all-in-one enterprise administration platforms and highly effective on-line marketplaces for the salon, spa and health industries. Corporations in america, Canada, United Kingdom, and Australia use Vagaro’s cloud-based software program to handle all elements of their operations and market their companies to native clients. Customers select Vagaro to look and guide companies of their group at will. Vagaro is straightforward to make use of and works on any machine. Be taught extra about Vagaro salon software program, health software program, spa software program and wellness software program at Vagaro.com and gross sales.vagaro.com.
About FTV Capital
FTV Capital is a development public firm that has raised practically $ 4 billion to spend money on excessive development corporations that supply a spread of modern options throughout three sectors: enterprise know-how and companies, monetary companies, and cost and transaction processing. FTV’s seasoned crew makes use of their experience and confirmed monitor document in every of those sectors to assist motivated administration groups speed up development. FTV additionally offers corporations entry to its International Companion Community®, a bunch of world leaders and executives who’ve supported FTV portfolio corporations for 20 years. FTV Capital was based in 1998 and has invested in additional than 125 portfolio corporations together with Docupace, Spinoff Path, EBANX and LoanPro, and efficiently exited / partially exited corporations comparable to Enfusion (NYSE: ENFN), InvestCloud (recapitalized), Strata Fund Options (acquired) by Alter Domus), Daylight Monetary (NYSE: SUNL), VPay (acquired by Optum) and WorldFirst (acquired by Ant Monetary). FTV has workplaces in San Francisco, New York, and Connecticut. Extra info is out there at www.ftvcapital.com.
