Tech Startup theCut Raises $4.5M Round To Transform The Booming Barbershop Industry
Photo Credit: TheCut
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Tech Startup theCut Raises $4.5M Round To Transform The Booming Barbershop Industry

With over 100,000 new subscribers every month, TechCrunch reports theCut is transforming the landscape for barbers across the country. Founded in 2016 by Obi Omile Jr. and Kush Patel, the tech software is designed to create a more efficient process for barbers and improve the customer experience.

“Kush and I both had terrible experiences with haircuts, and decided to build an app to help find good barbers,” Omile said. “We found there were great barbers, but no way to discover them. You can do a Google search, but it doesn’t list the individual barber. With theCut, you can discover an individual barber and discover if they are a great fit for you and won’t screw up your hair,” Omile Jr. shared, according to TechCrunch.

What Does theCut Offer?

The company offers built-in services including direct communication with clients, pre-booking, performance reviews, and reminders for clients. Now theCut will be able to expand operations due to an impressive $4.5 million raised, TechCrunch reports.

The earnings total an impressive $5.35 million in funds collected since 2016. The round was led by Nextgen Venture Partners in conjunction with Leadout Capital, Elevate Ventures, and Singh Capital. Leadout founder Ali Rosenthal also joined the board of directors, in support of the investment.

“They had done so much with so little by the time we met them,” Rosenthal shared in a statement. “They are creating a passionate community and set of modern, tech-driven features that are tailored to the needs of their customers.”

How Will The Raise Improve Company Operations?

Since 2016, theCut has attributed over $500 million in proceeds for barbers. In addition, its platform has grown at an impressive rate contributing to almost 1.5 million monthly bookings.

To further advance their company, they plan to hire more talent to meet demand. The company aims to improve customer experience with in-person payments which will be introduced at an undisclosed date. In addition, theCut will encourage interpersonal relationships with its barbers to provide unique experiences for its customers.

“We are building software to empower people to be the best version of themselves, in this case barbers,” Omile revealed in a press statement. “The relationship with customers is an opportunity for the barber to make specific recommendations on products and create a grooming experience.”

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