Luxembourg-based salon management solution, Salonkee has raised €28 million Series B round as it continues penetrating the European market. Fresh capital will see Salonkee innovate, expand and grow its suite of management tools for hair and beauty salons across Europe.
Funds will fuel growth in the Salonkee team, innovation of its offering and growth throughout its European markets, which Salonkee claims are catching up with their US counterparts, due in part to its 'large and growing international team' - it currently has 110 employees across offices in Luxembourg, Belgium, Switzerland, Germany and the Netherlands.
“We’ve developed a comprehensive, end-to-end solution enabling customers to digitise all aspects of their operation, yielding tremendous efficiency gains and mind-blowing ROI. Our platform provides everything needed to run a salon business in the modern era from a single pane of glass, offered at a disruptive price point. This makes our solution incredibly sticky and mission critical for our customers. We’re thrilled to have PeakSpan on board as a partner and look forward to investing the proceeds from this financing to continue to deliver the best possible solution in market to our customers," says Tom Michels, co-founder and CEO of Salonkee.
“The Salonkee team identified a massive market opportunity in Europe early on, characterised by a highly-fragmented landscape of competitors with no clear market leader and a suite of outdated or simplistic solutions,” says Matt Melymuka, Co-Founder and Managing Partner at PeakSpan Capital. “The team has demonstrated an incredibly impressive track record of rapid, capital efficient growth and has been surgical in deploying a well-defined scaling playbook to methodically expand to new European markets and quickly establish market leadership and penetration. The go-to-market engine the team has built is one of the more well-oiled machines we’ve seen, and has driven tremendous growth with remarkable predictability and consistency. We’re privileged to partner with Salonkee to capitalise on the opportunity to further extend its leadership position in the highly strategic European market.”