Digital management specialist Mindbody secures $50M in new funding to create more cutting edge business solutions for salons
Software management provider Mindbody has secured $50 million funding to support its global expansion and mobile product development.
A syndicate of current and new investors has leveraged the industry record-beating figure of equity financing for the California-based company, which specifically caters to the salon and spa sectors.
The new funding will allow Mindbody to advance the development of its web and mobile products to provide its global client base with more connections to consumers alongside widened opportunities for business growth.
According to CEO and co-founder Rick Stollmeyer: “Over 500,000 practitioners at 33,000 businesses in 92 countries depend on Mindbody’s industry-leading, mobile-enabled SaaS platform.” The digital product allows business to manage all aspects of their operations within a single system, encompassing marketing, e-commerce, staff management, point of sale and payment processing.
Meanwhile, last year saw the launch of the Mindbody Connect mobile app, which enabled the company’s huge network of salon and spas to link with tens of millions of consumers worldwide.
Michael Matly, MD of investor Montreux Equity Partners, adds “Mindbody is providing these small business owners with cutting-edge technology that helps them stay relevant in a rapidly advancing online world.”