issued
October 24, 2024
Fresha, a beauty and wellness marketplace platform, announced an investment and partnership in Yuv, described as “a cutting-edge company specializing in AI-powered hair color technology.” The size of the investment was not disclosed.
Fresha
The development comes just two months after London-based Fresha secured a $31 million venture debt facility from JPMorgan. To date, the company has raised more than $185 million in venture capital funding, including a $150 million Series C round in 2021 led by General Atlantic.
The new partnership with another UK-based company further strengthens Fresha’s position as the go-to platform for salons and beauty professionals around the world, delivering unparalleled innovation and efficiency. I heard that preparations will be made for the
Fresha has a network of over 120,000 beauty businesses around the world (mainly in the UK, US, Canada, ANZ and Europe), with salons making up the majority of its partners.
Although hair color is an important revenue stream for the company, it “remains one of the most complex services to effectively manage.”
“By integrating Yuv’s breakthrough technology, Fresha will revolutionize the hair coloring process, increasing accuracy, streamlining inventory management, and providing customers with personalized and consistent service,” the company said in a statement. “It will happen,” he claims. This strategic move provides salons and beauty businesses with the advanced tools they need to improve both service quality and operational efficiency, further strengthening Fresha’s position as an industry leader. ”
Yuv’s technology allows salons to save personalized hair color formulas directly to customer profiles, “ensuring a consistent and tailored experience for every customer.” This means you can offer a customized service, which not only strengthens customer loyalty and encourages repeat business, but also contributes to environmental sustainability. ”
The technology is also said to “significantly improve inventory management, provide salons with real-time insight into product usage, and automate replenishment processes.”
“Our investment in Yuv aligns with our mission to provide cutting-edge tools to beauty professionals,” said William Zeqiri, founder and CEO of Fresha. “Hair coloring is a cornerstone of the salon business, and by addressing the complexity of this service, we are adding significant value to our platform.”
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