- In 2015, Dave Salvant and Songe LaRon launched Squire, a one-stop platform that handles bookings and sales for barbershops.
- Squire grew 400% last year and raised $59 million in December, bringing its valuation to $250 million.
- They shared Squire’s pitch deck and explained how they organized the presentation.
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In 2014 when longtime friends Dave Salvant and Songe LaRon starting thinking about building a business together, they kept coming back to one enterprise that meant a lot to them both: barbershops.
The pair reminisced about visiting barbershops nearly every week of their lives and observed that while their hairstyles may have changed over the years, barbershop’s operations hadn’t: Customers typically called for an appointment and paid in cash.
“There were a lot of pain points for professionals and we figured there was a real opportunity that no other tech companies were addressing,” Salvant said. In 2015, the cofounders launched Squire, a platform that handles bookings, payment, analytics, and other business services, for barbershops.
When the pandemic hit, the New York City-based company waived subscription fees and started offering gift card services so customers could still support their local barbers — the business sold about $30,000 in gift cards, the cofounders said.
“I think we fostered a lot of goodwill for Squire and that helped increase our sales and demand,” Salvant said. Squire grew 400% last year and of the 150 current employees, about 80% were hired during the pandemic to facilitate the company’s growth.
In December, Squire raised $59 million in a Series C, led by Iconiq Capital, bringing its valuation to $250 million. So far, the company has raised $105 million in total funding.
Salvant and LaRon shared Squire’s pitch deck and explained how they organized the presentation, including how they responded to the pandemic. Sensitive information has been redacted.
Source: Business Insider