By Eddie Kang
Point72 Private Investments is thrilled to be leading a $70M Series C round in Boulevard, the most comprehensive modern-day software solution for the self-care market.
The self-care market is booming. Spas, salons, barbershops, med spas and a host of other self-care services have not only seen appointments spike after years of Covid lockdowns and social distancing but are now growing faster than ever. According to a recent survey, two-thirds (67%) of Americans agreed that the expanded personal self-care routines they developed during the pandemic had become a permanent part of their daily lives.
At the same time, when the Covid pandemic caused much of the world to hit pause on brick-and-mortar stores and services, the public’s engagement with technology irrevocably changed. People became accustomed to technology making their lives easier and more connected, whether it was one-click shopping or grandparents setting up family Zoom calls. As we’ve resumed normal life, many store owners have realized that their outdated software is no longer keeping up.
This confluence is fueling the incredible growth potential for Boulevard. As the self-care industry continues to grow, so too will the role technology plays in creating the seamless experiences that keep clients coming back. Not only has Boulevard designed an elegant and visionary platform that fills a pressing need in a fast-growing industry, but we believe they’ve also built a thoughtful, customer-centric culture validated through world-class client retention numbers.
When we spoke with Boulevard’s customers, we heard over and over again how Boulevard created additional revenue opportunities for their businesses, streamlined operations, and leveled up the digital experience for their customers. Boulevard co-founders Matt Danna and Sean Stavropoulos spent months working out of the very salons and spas that they now provide their software to. Their knowledge of their customers informs their ability to create an effective software solution to drive customer satisfaction and retention.
We’re excited to welcome Boulevard to the Point72 Private Investments portfolio and look forward to supporting their next phase of growth.