How a Simple Cold Email Led Mangomint to Secure $35 Million in Funding
Techcrunch•1 month ago•
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How a Simple Cold Email Led Mangomint to Secure $35 Million in Funding

mangomint
startup
funding
salonsoftware
entrepreneurship

Summary:

  • Mangomint was founded in 2017 to simplify salon operations.

  • The company targets small and medium-sized businesses (SMBs) in a market projected to reach $185 billion by 2030.

  • Mangomint has achieved over 100% annual recurring revenue growth and processed more than $1 billion in transactions.

  • The startup recently raised $35 million in Series B funding led by Altos Ventures.

  • They aim to enhance their software with more automation-driven features for better customer engagement.

The Birth of Mangomint

In 2017, Daniel Lang, Dan Poineau, and Sandra Huber united to create Mangomint, a startup focused on providing comprehensive salon and spa operations software. Lang expressed their belief that existing software providers were misguided in developing their own booking platforms, akin to OpenTable. Instead, they aimed for an all-in-one solution that would handle appointment bookings and automate ongoing communications, from reminders to care instructions.

Targeting the Right Market

Mangomint primarily serves small and medium-sized businesses (SMBs) employing at least five technicians, such as estheticians and nail technicians. Their software automates various tasks, including client bookings and promotional emails. The market for their services is projected to grow significantly, with estimates suggesting it could reach $185 billion by 2030.

Impressive Growth Metrics

Lang reported that Mangomint has experienced over 100% annual recurring revenue growth and customer expansion for several years, with no signs of slowing down. The company has processed more than $1 billion in transactions, with notable clients like Ouidad, OSEA, Shop Good, and Surya Spa.

Mangomint Software Flow Image Credits: Mangomint

Recent Funding Success

Recently, Mangomint announced a $35 million Series B funding round led by Altos Ventures, with participation from Jason Lemkin’s SaaStr Fund. After initially connecting with Lemkin through a cold email, Lang found himself in a productive conversation that quickly led to investment interest.

The Future of Mangomint

With the new funding, Mangomint plans to hire additional talent and enhance its automation-driven features. They recently launched a new feature that sends tailored SMS messages, internal notifications, and client reminders, aiming to better engage and retain customers.

Lang emphasized their vision to innovate and provide new marketing and communication tools for salons, helping them to increase profitability.

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