TheCut Raises $4.5M to Develop Cutting-Edge Platform for Barbershops – Bestgamingpro – Best gaming pro

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A technology platform for barbers, TheCut, has raised $4.5 million in new funding from a group of investors including Nextgen Venture Partners, Elevate Ventures, Singh Capital, and Leadout Capital. nTheCut received $5.35 million in total investment since it was established in 2016 after founder Obi Omile Jr. informed us.
Kush and Omel V Patel developed the mobile app that provides information and evaluations on barbers for potential clients, as well as management of appointments, mobile payments, and pricing on the back end.
“Kush and I both had terrible experiences with haircuts, and decided to build an app to help find good barbers,” Omile said. “We found there were great barbers, but no way to discover them. You can do a Google search, but it doesn’t list the individual barber. With theCut, you can discover an individual barber and discover if they are a great fit for you and won’t screw up your hair.”
The software also opens barbers up to new possibilities, including a list of clients and notes and photographs of haircuts, as well as data tracking. Barbers may use digital trends to offer additional services and extras in order to boost income by offering payments. There is a search feature on the customer side that includes barber profile photos, ratings and reviews, a list of service choices and prices.
‘We’re in hiring mode,’ Ovle said. ‘There are 400,000 to 600,000 barbers in the United States, and it’s a very fast-growing market.’ As a result, the fresh cash would be utilized to hire more people, boost marketing efforts, and expand operations across the country. ‘We’ve gotten to a stage where we’re hitting our stride and seeing business grow significantly; therefore we’re engaging in recruiting,’ he continued.
The haircare app, which began as a mobile-first company and has since become one of the most popular apps in the world, is quickly becoming a household name. In fact, since its inception, the firm has generated well over $500 million in sales and is gaining over 100,000 new monthly users. Furthermore, the application averages 1.5 million appointment bookings every month.
Last but not least, Omile plans to expand the app’s capabilities with new features such as a digital shop and the ability to process more physical payments through the introduction of a card reader for in-person transactions. TheCut will also invest in allowing barbers to have closer connections with their customers.
“We are building software to empower people to be the best version of themselves, in this case barbers,” he added. “The relationship with customers is an opportunity for the barber to make specific recommendations on products and create a grooming experience.”
Ali Rosenthal, founder and managing partner of Leadout, has joined the company’s board of directors as part of the investment. She described Omile and Patel as being good entrepreneurs who are experts in their markets and data-driven engineers.
“They had done so much with so little by the time we met them,” Rosenthal added. “They are creating a passionate community and set of modern, tech-driven features that are tailored to the needs of their customers.”
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