How the financial crash helped style Irish beauty salon software firm Phorest
cheap Canada Goose Beauty salon software Canada Goose online provider Phorest completed a 20m investment canada goose coats on sale round, the company’s third, with US investment firm Susquehanna Growth Equity (SGE), in June. cheap Canada Goose
buy canada goose jacket First founded in 2004 by Ronan Perceval and Jamie Myerscough, the Canada Goose Parka Dublin headquartered developer canada goose coats provides management software for more than 4,500 salons in ten countries around the world. buy canada goose jacket
canada goose When personal trainer Jamie moved away from the day Canada Goose Outlet to day running of company to focus on his ambition to launch a gym business in 2006, Phorest was already canada goose black friday sale feeling the impact of a shrinking economy. canada goose
Canada Goose sale “All of our canada goose uk black friday clients were in Ireland at the time. Canada Goose sale
buy canada goose jacket cheap “It buy canada goose jacket cheap pushed me to do something different and I moved to the canada goose clearance sale UK to launch the product there. It’s an incredibly competitive market but things started canada goose to grow for us over the canada goose store years and today we cheap canada goose uk are the number one provider of software to salons in the UK. buy canada goose jacket cheap
Canada Goose Outlet “That uk canada goose experience really proved us. As an Canada Goose sale Irish company in a difficult buy canada goose jacket space, we needed to be the best and have our software speak for itself canada goose uk outlet so our canada goose uk shop product got so much better during that time. It made us a much better company.” Canada Goose Outlet
When Jamie’s son was born in 2012, he returned to Dublin as the UK business was “rocking” at http://www.mycanadagoosejacket.org that point. But despite the success of the company in the UK, uk canada goose outlet finding investors in Ireland willing to pump money into a software product for salons was difficult.
“We had built up a business from nothing, completely bootstrapped, that was then doing 1m in revenue and everyone turned cheap Canada Goose us down,” he said.
“I think that most of them believed that you can’t built a company on the salon industry. All the investors at the time were men and maybe could not see what potential the platform had.
Read more: Original investors benefit as beauty salon software provider Phorest completes 20m funding round
canadian goose jacket “It wasn’t until I worked in a salon myself, in the early days of setting up the company, that I got to witness all the opportunities of what the app could do. You get to like the salon and develop a passion for the industry by being on the ground”. canadian goose jacket
canada goose deals It was around this time that a number of HBAN angel investors provided 700,000 over two funding rounds to canada goose factory sale Phorest, the first in 2011 and the second in Canada Goose Jackets 2013. canada goose deals
canada goose coats With the backing of HBAN and the Enterprise Equity Fund, the company had around 1m to focus on building out the product. canada goose coats
Canada Goose Jackets “They believed in us and the funding allowed us to build a proper cloud platform and develop the app etc. But the biggest difference of all was the level of professionalism that was required of us. Suddenly we had a board and a chairman, and when we made promises at a board meeting, we knew we had to deliver it. Canada Goose Jackets
canada goose black friday sale “At first, it was really hard changing everything that we’d been used to but it was a great experience that we genuinely learned from. We had a proper structure, we were doing things on time, and if they weren’t completed on time, there had to be a reason why. canada goose black friday sale
canada goose clearance “That led to a much stronger company and much better management.” canada goose clearance
Pat Garvey of Bloom Equity acted as lead angel on one of the investments and still serves as the Canada Goose Online chairman of Phorest.
canada goose coats on sale Meanwhile, with the latest funding round, a number of the original HBAN investors have been bought out for an amount that equals almost ten times their initial investment. canada goose coats on canada goose outlet sale
Canada Goose online However, some of those who took part in the 2011/2013 investment rounds have stayed involved as the company focuses on strengthening its foothold in a number of markets globally. Canada Goose online
Canada Goose Parka With a team of around 160, Phorest currently has offices in Dublin, Philadelphia, Cologne, Helsinki and Australia. Canada Goose Parka
canada goose store “There’s a huge opportunity to grow in these markets so that’s going to be our immediate focus. With our recent evergreen fund investor, and those remaining on board Canada Goose Coats On Sale aware of our long term goals, we’re in it for as long as it takes to become the number one provider across all of these markets.” canada goose store.