Squire, a barbershop tech startup, triples its valuation to $250M in latest round

Squire, a startup that sells software to barbershops, has raised $59 million in a round led by Iconiq Capital. The raise is $45 million in equity capital, and $15 million in debt financing.

The round comes just months after Squire closed its $34 million Series B, led by CRV. With the new financing, Squire has nearly tripled its valuation, up from $85 million in June to $250 million today. Other investors in the company include Tiger Global and Trinity Ventures.

What happened? Squire’s revenue went from zero in March, when all barber shops closed, to between $10 million to $20 million in ARR just 10 months later, TechCrunch has learned. The growth indicates how the next wave of barbershops will be built atop digital technology, instead of offline processes.

Read the article on Tech Crunch

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