A cold email sent to a VC raised $35M for Mangomint, a salon software startup
Back in 2017, Daniel Lang, Dan Poineau, and Sandra Huber came together to build Mangomint, a startup that makes salon and spa operations software.
Lang said they realized that software providers were trying to build their own booking platforms, a la OpenTable. Lang told TechCrunch that they didn’t think this was the best approach to beauty and wellness. The founders envisioned all-in-one software that booked appointments and then automated ongoing text communications that could do everything from appointment reminders to sending care instructions prior to a skincare procedure.
The company works mainly with small and medium-sized businesses (SMBs) that employ at least five technicians such as estheticians or nail technicians. The software automates tasks, from booking clients to sending promotional emails. Astute Analytica estimates that Mangomint’s target market will grow to $185 Billion by 2030. Lang says that the company’s annual recurring revenue has been growing at more than 100% every year for the past few years, with “no sign of slowing down” although the company would not provide any specifics. Lang said that Mangomint had processed over $1 billion worth of transactions. Notable clients include Ouidad, OSEA and Shop Good. OpenView Venture Partners and a small check from an angel investor were the only investors of its Series A. Lang says that he met Altos for the first time at the SaaStr annual conference in 2021. He has been part of the SaaStr Community for many years. He first connected with Lemkin via a cold-email email several years back. Long explained that Jason has been advising founders for years to send a good cold email in order to get in contact with VCs. I did that, and he replied within a few hours.” Tae Yoon is a partner with Altos Ventures. She told TechCrunch that the company’s investment in Mangomint has “huge potential” to unlock value for SMBs. “We are thrilled to partner with Mangomint
is bringing innovative and beautiful solutions to the salon and spa community.”
Competitors include GlossGenius, Varago, MindBody, and Boulevard. The company plans to use its new capital to hire engineers, support managers and other talent to build more automation features. With this round, it also announced the launch of a feature that helps automatically send, for example, tailored SMS messages, internal notifications, and client reminders, to help engage and retain customers.
“We believe we can innovate with entirely new marketing and communication tools for salons that help them generate more profits,” Lang said.
