{"id":26131,"date":"2021-09-04T12:06:09","date_gmt":"2021-09-04T12:06:09","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/barbershop-technology-startup-thecut-sharpens-its-platform-with-new-4-5m-round.html"},"modified":"2021-09-04T12:06:09","modified_gmt":"2021-09-04T12:06:09","slug":"barbershop-technology-startup-thecut-sharpens-its-platform-with-new-4-5m-round","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/barbershop-technology-startup-thecut-sharpens-its-platform-with-new-4-5m-round.html","title":{"rendered":"Barbershop technology startup theCut sharpens its platform with new $4.5M round"},"content":{"rendered":"

TheCut<\/a>, a technology platform designed to handle back-end operations for barbers, raised $4.5 million in new funding.<\/p>\n

Nextgen Venture Partners led the round and was joined by Elevate Ventures, Singh Capital and Leadout Capital. The latest funding gives theCut $5.35 million in total funding since the company was founded in 2016, founder Obi Omile Jr. told TechCrunch.<\/p>\n

Omile and Kush Patel created the mobile app that provides information and reviews on barbers for potential customers while also managing appointments, mobile payments and pricing on the back end for barbers.<\/p>\n

\u201cKush and I both had terrible experiences with haircuts, and decided to build an app to help find good barbers,\u201d Omile said. \u201cWe found there were great barbers, but no way to discover them. You can do a Google search, but it doesn\u2019t list the individual barber. With theCut, you can discover an individual barber and discover if they are a great fit for you and won\u2019t screw up your hair.\u201d<\/p>\n

The app also enables barbers, perhaps for the first time, to have a list of clients and keep notes and photos of hair styles, as well as track visits and spending. By providing payments, barbers can also leverage digital trends to provide additional services and extras to bring in more revenue. On the customer side, there is a search function with barber profile, photos of their work, ratings and reviews, a list of service offerings and pricing.<\/p>\n

Omile said there are 400,000 to 600,000 barbers in the U.S., and it is one of the fastest-growth markets. As a result, the new funding will be used to hire additional talent, marketing and to grow the business across the country.<\/p>\n

\u201cWe\u2019ve gotten to a place where we are hitting our stride and seeing business catapulting, so we are in hiring mode,\u201d he added.<\/p>\n

Indeed, the company generated more than $500 million in revenue for barbers since its launch and is adding over 100,000 users each month. In addition, the app averages 1.5 million appointment bookings each month.<\/p>\n

Next up, Omile wants to build out some new features like a digital store and the ability to process more physical payments by rolling out a card reader for in-person payments. TheCut will also focus on enabling barbers to have more personal relationships with their customers.<\/p>\n

\u201cWe are building software to empower people to be the best version of themselves, in this case barbers,\u201d he added. \u201cThe relationship with customers is an opportunity for the barber to make specific recommendations on products and create a grooming experience.\u201d<\/p>\n

As part of the investment, Leadout founder and managing partner Ali Rosenthal joined the company\u2019s board of directors. She said Omile and Patel are the kind of founders that venture capitalists look for \u2014 experts in their markets and data-driven technologists.<\/p>\n

\u201cThey had done so much with so little by the time we met them,\u201d Rosenthal added. \u201cThey are creating a passionate community and set of modern, tech-driven features that are tailored to the needs of their customers.\u201d<\/p>\n

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Growth tactics that will jump-start your customer base<\/a><\/p>\n<\/blockquote>\n

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\u00a0<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/Ru7KqM9kpcU\/<\/p>","protected":false},"excerpt":{"rendered":"

TheCut, a technology platform designed to handle back-end operations for barbers, raised $4.5 million in new funding. Nextgen Venture Partners led the round and was joined by Elevate Ventures, Singh <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-26131","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t