Investment positions the company for accelerated growth and continued product innovation
Millennium Systems International (“Millennium” or “MSI”), a leading software provider to the spa and salon industry, announced that it received a minority investment from Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies.
Millennium’s award-winning end-to-end Meevo 2 platform allows salons and spas to manage the critical areas of their business, from customer acquisition and retention to operations and billing. The company’s software powers over 150,000 users daily and processes billions of dollars in transactions for its thousands of customers across the globe. The investment will help the company expand its go-to-market, continue its product innovation, and further establish its leading position within the beauty and wellness space.
The company has recently been active in product innovation, including offering a contactless experience for beauty and wellness clients. Millennium recently announced advancements in its product security, including HIPAA Compliance and artificial intelligence (AI) and Machine Learning (ML) features.
John Harms, Founder and CEO of Millennium, shared, “We are excited to partner with Serent Capital and bring together the depth of Millennium’s industry knowledge built over three decades with Serent’s vast experience and resources in vertical software and with integrated payments. We waited 30 years to bring on a capital partner, but today was the right time, and Serent is the right partner. Together we look forward to building more products and functionality that our customers love and providing the best possible experience for spas and salons.”
“We have gotten to know John and Millennium since 2014 and developed a great respect for the team, their new cloud-based product Meevo 2, and their loyal customers,” said Stewart Lynn, Partner at Serent Capital. “We’re thrilled to partner with them as we look to help scale an already special business and position it for the next chapter of growth,” he concluded.
Serent has been an active investor in vertical software with integrated payments across several industries, including the lawn care industry with Real Green Systems, the landscape industry with LMN, the education industry with KEV Group, and the athletic event management industry with ArbiterSports.
About Serent Capital
Serent Capital invests in growing businesses with compelling solutions that exceed customer needs. As businesses grow and evolve, the opportunities and challenges they face change with them. The principals at Serent Capital have firsthand experience navigating growth through their experiences as CEOs, strategic advisors, and board members to successful businesses. Serent leverages their expertise and capital to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
About Millennium Systems International
Millennium Systems International is the leading business management software provider for the beauty and wellness industry, built on over three decades of insight, innovation, and disruption. The award-winning Meevo 2 platform is a true cloud-based, all-in-one solution for growth that is HIPAA compliant and fully responsive, so users can gain complete access using any device. For more information, visit www.millenniumsi.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005250/en/
Contacts
Kathleen Rochard
Kathleen.Rochard@SerentCapital.com
