August 17, 2022

Black-Owned Salon And Barbershop Booth Rental App Raises $2.3M

Black-owned digital app, ShearShare, has raised $2.3M in a seed funding round led by Fearless Fund. 

The round also included Level Up Ventures, New York Ventures, Gaingels, Chloe Capital, Portfolia, Pipline Angels, Bacon Family Trust, and ACV Auctions co-founder Jack Greco. The additional funding brings ShearShare’s total funding amount to $6.2M. 

Known to many as the “HairBnB,” ShearShare has created an easily accessible mobile app that provides licensed beauty and barbering professionals with flexible and affordable spaces to rent. In addition, entrepreneurs can use these spaces with no-term leases or commission fees. 

Launch in 2017 by Dr. Tye Caldwell and his wife, Courtney Caldwell, ShearShare has created a platform that works to revolutionize the way beauty entrepreneurs work and navigate spaces. Both founders have worked in the hair and barber industry for over a decade and have dealt with many hurdles, which is why ShearShare is the best app to help ease beauty entrepreneurs’ day-to-day struggles. 

“We want to be able to meet our community where it is, which is on their mobile device, and be able to give them access to B2B tools that we already know you’re going need to be successful but on a pay-as-you-go basis because we understand that paying as you go or paying for what you use is the best way for a small business to grow,” said co-founder Courtney Caldwell. 

“We totally believe that the future of this industry is owned by the independents, and so we want to make sure that we are providing those tools to them to make their lives easier and to lower the hurdles for those day-to-day challenges.” 

ShearShare has adjusted to its customers’ needs for work flexibility by allowing users to rent booth spaces in 900 cities daily, weekly, or even monthly. The pair have also partnered with Lloyds of London to offer members liability insurance for $5 a day and hope to expand their portable health benefits. 

The platform has also undergone a complete revamp, offering clients a new logo and mobile user experience. In addition, both founders hope to maximize their earnings potential by expanding their services to reach a broader demographic. 

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.