Jan. 13, 2022 -- Boathouse Capital has announced that it has completed a growth investment in Glamsquad (or the “Company”), a digital platform that connects customers with vetted beauty professionals to deliver on-demand hairstyling, makeup and nail services directly to clients–home, office or hotel suite. The Company currently operates in New York City, Los Angeles, Miami, Washington D.C., Boston and San Francisco with plans to expand into new markets in the immediate future.
Glamsquad was launched in 2014 and has become the leading on-demand beauty services provider in the country. Glamsquad’s selective screening and training process ensures that customers are connected to experienced beauty professionals to deliver a personalized beauty experience at their convenience. Glamsquad attracts top talent in the beauty services industry through their user-friendly booking platform, complete scheduling flexibility, and competitive compensation.
Glamsquad intends to use the proceeds of this financing to accelerate its growth nationwide by expanding marketing capabilities, enhancing channel partnerships and exploring additional service offerings.
“Since its founding, Glamsquad has built an exceptionally strong brand and reputation focused on delivering high-quality, highly convenient beauty services to their customers. While the pandemic was a difficult period to navigate, the steadfast commitment by Co-Founders Dave Goldweitz and Giovanni Vaccaro helped the Company reach profitability and positioned Glamsquad for future success” says Shivam Patel, Principal at Boathouse Capital. “We are thrilled to partner with the high-caliber Glamsquad team and the current owner, JMB Capital, on expanding the Company into new markets and verticals while continuing to operate in a streamlined and cost-efficient manner.”
“After stabilizing the Company and restructuring the business to achieve profitability throughout the challenges of the pandemic, we are thrilled to partner with Shivam and the team at Boathouse as we reinvigorate the Company’s growth initiatives by focusing on expanding Glamsquad’s presence into additional markets nationwide,” added Vikas Tandon, CIO of JMB Capital and Chairman of Glamsquad Holdings.
Dave Goldweitz, CEO of Glamsquad, remarked “We are so proud of the Glamsquad team, and especially the thousands of independent beauty professionals whose commitment and dedication during the pandemic was crucial to the company’s survival. With this capital investment from Boathouse, Glamsquad can continue that forward momentum and is now well positioned for future success.”
Glamsquad was represented by American Discovery Capital and Lowenstein Sandler LLP. Latham & Watkins LLP advised Boathouse Capital in the transaction.
SOURCE: Boathouse Capital