Boulevard Secures $27M to Revolutionize Spa Management Software
Los Angeles-based Boulevard, a leading spa and salon management platform, has successfully raised $27 million in its latest funding round—a significant milestone amid the challenges posed by the COVID-19 pandemic.
The Origin Story: Solving a Niche Industry Problem
Founded in 2016 by Matt Danna and Sean Stavropoulos, Boulevard was born out of personal frustration. Stavropoulos struggled to book a haircut, while Danna recognized a systemic issue: salons and spas lacked tailored software to streamline operations and enhance customer experiences.
To validate their idea, the co-founders spent months conducting grassroots research in Los Angeles, posing as college students to interview salon owners in upscale neighborhoods like Beverly Hills and Hollywood. Their findings revealed glaring gaps in existing tools, inspiring them to build a platform combining the best of Shopify (ease of use) and ServiceTitan (vertical-specific functionality).
Why Investors Are Betting on Boulevard
Prominent investors, including Index Ventures, Toba Capital, and VMG Partners, backed Boulevard’s vision. The salon and spa industry represents a massive market, with:
- $250 billion in annual spending
- 3 million businesses globally
By comparison, the fitness industry generates just $34 billion across 150,000 businesses.
“Salons and spas are more than a luxury—they’re essential to our well-being,” said Danna. “This funding accelerates our mission to deliver transformative technology to an underserved industry.”
Proven Impact on Businesses
Boulevard’s platform drives measurable results for its clients:
- 16% increase in bookings
- 18% boost in retail revenue
- 24% rise in stylist gratuities
- 50% reduction in time spent on phone calls
- Fewer no-shows and cancellations
Notable clients include Chris McMillan the Salon, Heyday, and TONI&GUY.
Growth Trajectory and Future Plans
With 90 employees and a 300-400% revenue growth rate over the past three years, Boulevard is scaling rapidly. Damir Becirovic of Index Ventures highlighted the company’s potential to revitalize the industry.
Looking ahead, Boulevard may expand into financial services, such as small business loans, leveraging its deep insights into salon operations. This move could further empower entrepreneurs often overlooked by traditional lenders.
A Competitive Landscape
Boulevard isn’t the first to target this space—MindBody, a prior industry leader, was acquired for $1.9 billion in 2018. However, Boulevard’s vertical-specific approach and rapid adoption signal a promising future.
As the company grows, its focus remains on delivering innovative, purpose-built tools to help salons and spas thrive in an evolving market.
