startup Announce The new valuation was released on Thursday (May 21), along with news that it has received $80 million from funds managed by the investment giant. KKR.
“Fresha has built a differentiated platform, combining software, financial services and marketplace capabilities with embedded AI, in a way that is deeply integrated into the day-to-day operations of beauty and wellness companies.” Patrick Devinea KKR partner and member of the firm’s technology growth team, said in a press release.
“We believe the company is well-positioned to continue expanding globally as demand for modern, vertical-tailored technology solutions grows,” Devine added.
Founded in 2015 by William Zakiri and Nicholas MillerThe statement said that London-based Fresha is used by more than 130,000 beauty and wellness businesses around the world, in areas such as hair, beauty, shaving, nails, aesthetics, wellness, fitness and spas.
the platform It facilitates more than 35 million appointments each month, and plans to use the new funding to “accelerate global expansion and support next-generation products and AI innovations.”
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PYMNTS wrote late last year that the beauty industry was in the middle of “Artificial intelligence transformationwith companies using the technology for everything from “prime matching and real-time consulting to generative marketing and supply chain forecasting.”
For example, PYMNTS reported this Alta Beauty It uses machine learning to power its loyalty and personalization systems. The company’s platform integrates shopper profiles, purchase history and store interactions to provide targeted recommendations.
“The system has helped Ulta achieve a 95% repurchase rate among returning customers while improving business efficiency through automated scheduling and inventory forecasting,” PYMNTS wrote.
Meanwhile, Loreal Use artificial intelligence to Virtual diagnosis and personalizationpart of the CEO Nicholas Hieronymus It’s called a “revolution in enhanced beauty.” The brand’s AI tools now analyze millions of customers’ selfies to provide real-time shade and skincare recommendations.
The impact of technology extends beyond global companies. The U.S. Chamber of Commerce reports that independent beauty startups are using AI-powered assistants and shade-matching tools to scale operations. One company said nearly three-quarters of its orders now come through virtual trial and consultation features.
“These low-cost tools help small brands compete with enterprises without the need for large data teams or complex infrastructure,” the report added. “She likes smaller beauty brands Beckmann 1802 He told PYMNTS that AI tools allow them to create more personalized educational content Building stronger community engagement“.
