Mangomint Raises $35 Million and Debuts Spa-Salon Automation Tool
Salon/spa software provider Mangomint has raised $35 million in a Series B funding round.
The company announced the new financing Friday (Sept. 6), along with a new suite of marketing automation features designed to help beauty and wellness businesses drive profitability in a difficult sector.
“From rent and facility costs to product inventory, staff payroll, and marketing, operating costs in the salon and spa world are uniquely high,” Daniel Lang, co-founder and CEO of Mangomint, said in a news release.
“Our customers already see cost savings by using Mangomint to run their businesses, but now we’re helping them leverage intelligence and automation to drive profitability by helping them bring clients in and keep them coming back.”
According to the release, the company’s new Automated Flows tool uses event and activity-based logic to trigger a sequence of automated steps such as emails or SMS marketing messages, client reminders, and internal notifications.
The feature, Mangomint said, lets customers build communication and promotional flows “tailored to their specific services and client activities” to drive client retention and spending while ensuring a seamless experience.
Mangomint said it will use the new funding to hire engineering staff to develop more automation features, as well as new onboarding and support managers.
The new funding comes at a time when automation is changing the dynamics of many of many businesses’ decision-making processes, as noted here last month.
“Next-generation tools can now handle many of the routine tasks that were previously performed manually,” the PYMNTS Intelligence report said.
“These tools can process vast amounts of data in real time, providing decision-makers with up-to-date, accurate information, allowing CFOs to precisely monitor key working capital metrics such as days sales outstanding, days payable outstanding and inventory turnover ratios.
Still, many businesses remained married to paper-based processes in an age of automation, PYMNTS argued in a report last week.
As that report noted, many organizations — when faced with the choice of digging through piles of invoices or going paperless — choose to do nothing, saddled with outdated, manual accounts receivable processes that both hinder cash flow and stifle growth and innovation.
“If I had to boil it down to two words, it’s ‘competitive advantage,’” Aaron LeHew, director of invoice-to-cash at Esker, told PYMNTS about embracing AR digitization and automation.
“Organizations with well-oiled AR processes can rely on their own liquidity, reducing the need to tap into external financing,” he added. “This allows them to invest in growth initiatives and other strategic priorities.”
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