Boulevard, a customer experience platform that serves beauty and wellness businesses, recently raised $80 million in Series D funding. This astounding bubble of financing has increased its valuation to close to $800 million. Boulevard’s financial story can get a little crazy—the company’s revenue exploded more than 500% in just the last three years. This amazing jump is due to an exponentially growing customer base in the medspa industry.
The business does seem to have nine years of traction though. It started with a mission to provide software solutions that were not tailored to the unique needs of medspas. Boulevard’s CEO, Danna, notes that customizing the platform for medspa owners was a no-brainer. She spoke of how easy the process was. Danna had not expected medspa owners’ enthusiasm for Boulevard’s software to be so strong. Beyond that, she readily understood an enormous pivot in the industry away from rigid EMRs.
Today Boulevard is the operating system for about 15% of all medspas across the U.S. This growth is indicative of its fast growth in this booming industry. The company estimates it will process about $5 billion in payments this year. This is a huge increase to the agency’s ability to operate.
Following educational sector trends, we added a convenient online payment option. This surprise announcement opened up a new market for business, Danna added, underscoring just how customizable Boulevard’s solutions can be. The complex new payment system is a perfect fit for the company’s mission to make life easier for medspas and their customers.
Danna shared her love for how the beauty and medspa landscape are evolving together. “I am really impressed by how beauty and medical services lines are blurring,” she remarked, highlighting the growing intersection between these industries.
Danna acknowledged a key behavioral insight: “We ended up learning that if you make it easy to book online, it is easy to not show up for an appointment. Learning from these insights, Boulevard has iterated on their solution to help businesses achieve the highest appointment show rates possible.
This new round of funding speaks to a continued deep investor confidence in Boulevard’s growth trajectory. This support approves its ability to spur additional innovation in the beauty and wellness space. The logistics company’s valuation has seen an astronomical increase, jumping from $595 million three years ago to nearly $800 million today. Combined, this phenomenal growth demonstrates their ability to strategically position and expand.
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