Phorest, a Dublin-based company that provides management and booking software for the hair and beauty industry, has today announced that they have secured a €1.3 million investment from multiple funders, including a mix of private investors and the Enterprise Equity venture capital fund.
Phorest build and deploy software that helps over 750 beauty salons in Ireland and the UK take online bookings and appointments, manage client records, stock, staff, SMS marketing, and provide point of sale solutions. Each year, Phorest processes €250 million worth of bookings in a market that is expected to be worth €10 billion within the next ten years.
Ronan Perceval is the founder and CEO of what Forbes magazine refer to as “the leading salon software provider in the UK and Ireland”, and speaks about how his company plan to use their investment,
“Most of the investment will be going into product development. Early next year we will be releasing a new version of our salon software, codenamed Memento 7. This will utilise cloud technology to provide salon owners with the most advanced salon software on the market.”
Perceval also states that they will seek to provide training courses around Phorest software to give salons the best possible opportunity to grow their business. This investment directly results in the creation of 20 jobs in Ireland over the next three years.