Dallas’ ShearShare has a marketplace connecting stylists with available seats at salons and $2.3 million in funding
Courtney Caldwell and her husband Tye have been building the Dallas-based startup ShearShare, which provides a marketplace service connecting stylists with open seats at hair salons, since 2017.
Since their start the two co-founders have been committed to the humble hubbub of starting their own business — including flying between San Francisco and Dallas weekly to participate in the 19 th 500 Startups cohort or participating in Y Combinator’s Fellowship program.
Now, with a grain round of $2.3 million and another non-dilutive cash grant from Google for Startups Black Founders Fund, the early-stage company is ready to expand.
The two co-founders certainly have a pedigree in the allure industry. Tye Caldwell has been a luminary in the industry and is a member-elect of the Professional Beauty Association’s advisory board. Together with Courtney he operates an award-winning salon in Dallas.
Meanwhile, Courtney Caldwell depleted more than 20 times working for Oracle in technology market. But the two hadn’t really been exposed to the venture capital industry. So when they came up with the idea to start a service stipulate online matchmaking between establishments and stylists — based on their own need to fill a chair at their establishment — they didn’t really no where to turn.
Enter TD Lowe. A longtime investor on her own and with organizations like StartupGrind, Lowe introduced the couple to the world of venture capital and startups, and the two were off to the races.
” We pioneered on-demand barbershop and opening rentals ,” Courtney said.” If a lounge or barbershop has only one open station a stylist can book it like they are able to a inn chamber .”
According to the Caldwells, the beautiful industry is the second largest industry for freelancers and independent contractors. Unlike other companies that are trying to serve stylists by offering them boasts like booking and appointments independent of stores — or services for salons alone — ShearShare is trying to serve both sides of the marketplace with appropriate tools they need.
” We’re not a StyleSeat. We’re not a Squire ,” said Courtney. What they are is expanding rapidly. The company has enumerates in more than 600 municipals wandering from a chair that hires for $15 in Georgia to one that payments for $569 in the heart of Manhattan in New York City.
The company handles remittances for the stylists directly through a partnership with a neighbourhood fee solution called First American Payments based in Ft. Worth, Texas.
” Everyone is setting their batches on direct-to-consumer ,” said Courtney.” This is a way we’re helping to keep parties at work and refuel private individuals economic recovery .”
The next pace for the company is to begin launching more ancillary services for stylists. They’re pioneering an insurance policy for stylists that would comprise them from on-the-job lawsuits.
” It’s becoming a huge opportunity for the stylist that precisely didn’t exist ,” said Tye. And it all began when the two Caldwells couldn’t find any alternatives when they scoured for any calls related to renting space at a barbershop, they said.” We contacted out to a friend and informed her about the possibilities of that we’d been presented with and she said,’ Guys … that’s a billion-dollar idea .'”
That friend was Lowe — who came in to advise the couple and show them the ropes of startup investing.
It’s at least an idea that’s worth tens of millions. That’s how much the startup Mayvenn has raised for its business plying hair extensions and other cosmetics to stylists.
Now with its new funding, ShearShare is ready to expand, the couple said.
ShearShare’s backers include: Precursor Ventures, Revolution’s Rise of the Rest Seed Fund, Structure Capital, Backstage Capital and 500 Startups, alongside new participates Bread and Butter Ventures, ArlanWasHere Asset( Arlan Hamilton’s fund, in which Mark Cuban is the sole LP ), Lightspeed Venture Partners Scouts Program( with Veronica Juarez and Jason McBride passing ), Jaylon Smith of the Dallas Cowboys through the Minority Entrepreneurship Institute, Thaddeus Young of the Chicago Bulls with Reform Venture, the Bumble Fund, Notley Ventures, Sachse Family Fund and other world investors.
These investors are part of a new reproduction of investor that’s propagandizing go investment into areas that were previously considered beyond the reach of normal firms.
As the chief executive of a beauty and lifestyle startup, Julie Fredrickson told TechCrunch 3 years ago, “Most of these labels are commensurately underfunded compared to tech fellowships in same primacies. There’s a chance for a totally new dominant player and no one’s actually shooting for it.”
There’s a huge opportunity for businesses dishing all aspects of the beauty industry to flourish, inventors and investors.
“Venture is obsoleting itself as private equity and family roles increasingly go downstream because they’re willing to seek venture-style returns in verticals that venture capital is not prepared or is less educated about ,” according to Frederickson.