Beauty booking startup Fresha has been valued at $1 billion with the backing of KKR

Beauty and wellness marketplace Fresha has announced an $80 million investment from KKR’s Next Generation Technology Growth fund, valuing the London-based company at more than $1 billion. The investment is notable for KKR’s growth strategy, which focuses on companies with proven businesses that are still in the growth phase – a sign that Fresha appears to have passed the risk phase and is ready for expansion.

The London-based company, which was founded in 2015, has grown significantly over the past few years. When TechCrunch covered Fresha money cycle in 2021, the company had 60,000 businesses on its platform and was working with more than 150,000 professionals in 120 countries. Today, the platform accounts for more than 140,000 businesses and it is estimated that these businesses are booking more than 35 million people per month through Fresha. That volume — more than billions a year — puts it among the biggest brands of any kind, not just beauty and health.

The company has now raised $285 million to date and says it will use the new capital to expand to more countries and develop AI features.