Phorest secures funding for growth
Phorest, the Irish online booking tool for beauty salons in the UK and Ireland, has secured a ?1.3m (£1.1m) investment to fund growth of its salon software packages as well as its consumer booking tool The expansion programme is set to create 20 new jobs in Ireland over the next three years. The funding was been secured from three co-investors: The AIB Seed Capital Fund (co-managed by Enterprise Equity), Enterprise Ireland and Bloom Equity (a business fund consisting of experienced technology entrepreneurs). Phorest, which was founded by entrepreneur Ronan Perceval, said it has processed over ?250m (£219m) worth of online bookings in the past 12 months, including daily deals from websites such as Groupon and Living Social and loyalty transactions in salons across the UK and Ireland. Perceval said: 'The beauty salon industry is undergoing a fundamental shift as people go from booking appointments over the phone to over the internet. There were 200 million appointments made in UK salons last year and we expect the majority of these to move online in the next decade.'