Squire Technologies, a NYC-based barbershop management and point of sale system software platform, raised $34m in Series B funding.
This Series B includes $27m in equity financing and $7m in debt financing, bringing the total raised to $46.2 million for the tech startup.
The round was led by CRV, with participation from Tiger Global, San Francisco 49ers organization, and the former CEO and Chairman of Infor, Charles Phillips, and existing investors Trinity Ventures, 645 Ventures, Comcast Ventures’ Catalyst Fund and Y Combinator.
The company intends to use the funds to add financial services to its functional digital platform; to assist and educate barbershops; and to equip them with the necessary tools to function in a post-pandemic society.
Led by Songe LaRon, co-founder and CEO, and Dave Salvant, co-founder and President, Squire provides barbers and shop owners with the ability to operate their businesses with cashless and contactless pay transactions, thereby streamlining service interaction and helping them earn and retain loyal clientèle as a result. Tools include Point of Sale, Scheduling, Payroll, CRM, and a host of other features. Squire is a Y Combinator-backed company with offices in New York City and Buffalo, NY, and operations in 35 major cities across the United States, Canada, and the United Kingdom. The company has also launched www.helpbarbershops.com, a one-stop informational website for shop owners, which outlines eligibility standards for both federal and international relief programs.