US-based hairdresser management software producer Squire Technologies received $59m in series C funding yesterday from investors including telecommunications and internet group SoftBank’s Opportunity Fund.
Multi-family-office Iconiq Capital led the round, which consisted of $44m in equity funding and $15m in debt financing. It was also backed by Tiger Global Management, CRV, Trinity Ventures, New General Market Ventures and assorted individuals.
Squire offers business management software for men’s hair salons and barbershops. The series C round lifted the company’s valuation to $250m according to TechCrunch. The proceeds will go to product development, marketing and sales.
CRV led a $34m series B round for the company in June this year that included American football franchise San Francisco 49ers and mass media group Comcast’s corporate venturing unit, Comcast Ventures, through its Catalyst Fund.
Y Combinator, Trinity Ventures, 645 Ventures and private investor Charles Phillip also took part in the series B round.
Squire raised $8m in a June 2019 series A round led by Trinity Ventures that also featured 645 Ventures, Y Combinator, Bluefrog Capital, Altair Capital and New General Market Partners, after $4.2m in seed funding from 43 North and assorted angel investors at an undisclosed date.