Boulevard Secures $80M to Fuel Self-Care Boom with Botox & GLP-1 Demand
▼ Summary
– The beauty industry has expanded beyond basic services to include advanced treatments like Botox, laser hair removal, and GLP-1 medications for weight management.
– Boulevard, a scheduling and payment software provider for the self-care sector, recently raised $80 million in Series D funding, valuing the company at nearly $800 million.
– Originally focused on hair salons, Boulevard developed a machine learning-based booking system to optimize scheduling and later expanded to medspas, now serving 15% of U.S. medspas.
– Boulevard adapted its software for medspas by adding HIPAA compliance and features like injection mapping, capitalizing on the blurring lines between beauty and medical services.
– The company unintentionally expanded into payments by capturing credit cards to reduce no-shows and now expects to process $5 billion in transactions this year.
The self-care industry is undergoing a major transformation, with demand for advanced treatments like Botox and GLP-1 medications driving unprecedented growth. Boulevard, a leading provider of scheduling and payment software for beauty and wellness businesses, has capitalized on this trend, securing $80 million in Series D funding. The investment, led by JMI Equity with participation from Index Ventures and VMG Partners, values the company at nearly $800 million, a significant jump from its $595 million valuation in 2021.
Founded in 2016 by Matt Danna and Sean Stavropoulos, Boulevard started with a simple mission: modernizing appointment booking for hair salons. The founders quickly realized that traditional scheduling methods weren’t just outdated, they were intentionally designed to maximize stylist efficiency. To solve this, Boulevard developed an AI-powered booking system that factors in client preferences, service requirements, and even punctuality history.
Originally focused on hair salons, the company expanded into barbershops, spas, and nail studios. But its most explosive growth came from an unexpected sector: medspas, which blend cosmetic treatments with medical-grade procedures like injectables and weight-loss medications. Revenue surged over 500% in three years as Boulevard adapted its platform to meet the unique needs of these hybrid businesses.
Danna, Boulevard’s CEO, was initially surprised that medspas preferred his software over traditional electronic medical records (EMRs). The reason? Most medspas operate on a cash-pay model, making EMRs, designed for insurance billing, unnecessary. Boulevard responded by adding HIPAA-compliant features, including visual mapping tools for Botox and filler treatments. Today, the company estimates it serves 15% of all U.S. medspas, a testament to the blurring lines between beauty and healthcare.
Another unexpected revenue driver was Boulevard’s payment system. Originally introduced to reduce no-shows by holding credit cards for appointments, the feature evolved into a full-fledged transaction platform after clients requested seamless payment processing. This year alone, Boulevard expects to facilitate $5 billion in payments.
Despite fierce competition from players like Zenoti, Fresha, and Booksy, Boulevard’s ability to pivot and innovate has kept it ahead of the curve. As self-care continues to evolve, the company is well-positioned to ride the wave of demand for high-tech, high-touch wellness services.
(Source: TechCrunch)