![]() Squire isn’t the only company to see a big market in the country’s barbershops, of which there are 109,000, according to data from IBISWorld. An added twist: The founders of both Procore and ServiceTitan are Squire investors. ![]() “If you can do it for plumbing, you can do it for barbers,” LaRon, the company’s CEO, says. But thanks to the success of companies like Carpinteria, California-based Procore (software for construction sites, now publicly traded at a $13.8 billion market cap) and Los Angeles-based ServiceTitan (which makes apps for plumbers and other tradespeople, valued at $9.5 billion), the idea is now mainstream. Just a few years ago investors were skeptical about developing technology for small businesses and blue-collar workers. “One of the knocks against vertical software companies is, ‘Really, how big can these businesses become?’ We think really big.” ![]() “A lot of us realized that-wait, a barbershop is very different from all these other industries and there are these different needs for different software,” says Yoonkee Sull, a partner at San Francisco-based Iconiq Capital, which invested in Squire. The company, which has raised a total of $143 million in equity, made the cut for this year’s Next Billion-Dollar Startups, our annual look at 25 fast-growing, venture-backed companies we think likely to reach a $1 billion valuation. In July, Squire raised $60 million at a $750 million valuation, in a round led by Tiger Global. It’s on track to triple that figure, to more than $12 million. The firm brought in some $4 million in revenue last year despite waiving subscription fees during the pandemic, when nearly all barbershops were shuttered.
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