The startup announced the new valuation Thursday (May 21) along with news it had received $80 million from funds managed by investment giant KKR.
“Fresha has built a differentiated platform, combining software, financial services, and marketplace capabilities with embedded AI, in a way that is deeply integrated into daily operations of beauty and wellness businesses,” Patrick Devine, a KKR partner and member of the firm’s tech growth team, said in a news release.
“We believe the company is well positioned to continue scaling globally as demand grows for modern, vertical-specific technology solutions,” Devine added.
Founded in 2015 by William Zeqiri and Nicholas Miller, London-based Fresha is used by more than 130,000 beauty and wellness businesses worldwide, in fields such as hair, beauty, barbering, nails, aesthetics, wellness, fitness and spa, the release said.
The platform facilitates over 35 million appointments each month, and plans to use the new funding to “accelerate global expansion and fuel next-generation product and AI innovation.”
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PYMNTS wrote late last year that the beauty industry was in the middle of an “AI makeover,” with companies using the technology for everything from “foundation matching and real-time consultations to generative marketing and supply chain forecasting.”
For example, PYMNTS reported that Ulta Beauty employs machine learning to power its loyalty and personalization systems. The company’s platform integrates shopper profiles, purchase histories and store interactions to provide targeted recommendations.
“The system has helped Ulta achieve a 95% repurchase rate among returning customers while improving labor efficiency through automated scheduling and inventory forecasting,” PYMNTS wrote.
Meanwhile, L’Oréal has used AI for virtual diagnostics and personalization, part of what CEO Nicolas Hieronimus called “a revolution in augmented beauty.” The brand’s AI tools now analyze millions of customer selfies to provide real-time shade and skincare recommendations.
The technology’s impact extends beyond global corporations. The U.S. Chamber of Commerce reported that independent beauty startups are using AI-powered assistants and shade-matching tools to scale operations. One company said close to three-quarters of its orders now originate through virtual try-on and consultation features.
“These low-cost tools are helping smaller brands compete with enterprise players without needing large data teams or complex infrastructure,” the report added. “Smaller beauty brands like Beekman 1802 told PYMNTS that AI tools allow them to create more personalized education content and build stronger community engagement.”
