Boulevard Raises $80m To Power Self-care Boom Driven By Botox And Glp-1 Surge

The beauty manufacture has seen an detonation of offerings recently. Customers tin now entree treatments acold beyond basal hairsbreadth and nail care, from wrinkle-smoothing Botox and fillers to imperishable laser hairsbreadth removal and moreover weight guidance done GLP-1 medications.

Riding this activity of manufacture maturation is Boulevard, a supplier of scheduling and costs package for nan self-care sector.

The nine-year-old Boulevard conscionable raised $80 cardinal successful Series D funding, valuing nan business astatine astir $800 million, a meaningful uptick from nan $595 cardinal valuation it garnered 3 years ago. The information was led by maturation equity patient JMI Equity and included information from existing investors Index Ventures and VMG Partners.

When Boulevard launched successful 2016, nan company’s co-founders, Matt Danna and Sean Stavropoulos, wanted to lick what seemed for illustration a elemental problem: allowing group to book hairstyling visits online.

The duo couldn’t understand why salons still made clients telephone to make appointments. What they discovered was that salons were intentionally resistant to online scheduling: they were trying to optimize stylists’ time. 

So, Boulevard built a instrumentality learning-based booking strategy that considers various constraints, specified arsenic clients’ unsocial work needs and punctuality history.

The institution initially sold their precision-scheduling package to hairsbreadth salons, expanding to massage parlors and nail salons.

Boulevard’s gross soared complete 500% successful nan past 3 years, partially driven by a burgeoning caller customer segment: MedSpas. These businesses, which are a hybrid betwixt accepted time spas and aesculapian clinics, supply non-surgical, minimally invasive procedures ranging from microneedling and Botox to prescribing GLP-1 medications for illustration Ozempic for weight loss.

Danna, who serves arsenic Boulevard’s CEO, said he was first amazed that medspa owners were willing successful utilizing nan company’s package alternatively of physics aesculapian records systems (EMRs). He discovered that EMRs are amended suited for clients billing insurance, whereas MedSpas predominantly tally connected a cash-pay model.

Adapting Boulevard’s package to service MedSpas was beautiful straightforward, Danna said. The institution became HIPAA compliant and integrated MedSpa-specific features, including ocular charts for precise Botox and filler injection mapping.

Three years aft introducing these features, Boulevard estimates that it is powering astir 15% of each MedSpas successful nan U.S.

“I americium really impressed by really beauty and aesculapian services lines are blurring,” Danna said. “We person hairsbreadth salons that connection MedSpa services.”

Over nan years, Boulevard expanded its offerings to see an online costs system, a business offering that nan institution unexpectedly stumbled upon. “We ended up learning that if you make it easy to book online, it is easy to not show up for an appointment,” Danna said. “So, we started capturing in installments paper to clasp appointments, and that solved nan problem of no-shows.”

Though Boulevard initially had nary volition of charging those in installments cards, customers requested nan institution usage nan information for transactions. Boulevard now estimates it will process astir $5 cardinal successful payments this year.

Of course, Boulevard has plentifulness of competition, including Zenoti, which was past weighted astatine $1 cardinal successful 2020, Fresha, Booksy, and galore others.