Salon software company Phorest has announced the launch of The Phorest Growth Fund to celebrate the brand’s recent refresh and to give back to the industries and the community it serves. Founded in 2003 by CEO Ronan Perceval, Phorest has been supporting and empowering salon and spa owners since 2004 and now serves over 8,500 professional beauty businesses in 10 regions globally.

To support the Phorest Growth Fund, the software company will deposit $250,000 into a fund that will be available to Phorest salon and spa businesses all over the world as the essential springboard to their next steps in growth. The fund will be distributed on a case-by-case basis to businesses that need a financial stepping stone to facilitate the next phase of their growth.

The announcement comes on the back of an exciting brand identity refresh for the software company in 2022. This sleek new look is reflective of a fast-growing technology company that lives and breathes the beauty industry and speaks directly to the salons and spas it serves. The company continues to grow its team with almost 300 employees across its offices in the US, Canada, Ireland, UK, Finland, Germany, and Australia. In the last year, Phorest has elevated its Board of Directors with the recent appointment of two significant independent directors Paolo Braguzzi (former CEO of Davines Group) and Janna Ronert (Founder and former CEO of Image Skincare), joining a diverse and growing team.

Speaking about the launch of the Phorest Growth Fund, Phorest CEO Ronan Perceval said: "Phorest was literally born on the salon floor - we know what it's like to be at the heart of a business that is striving for excellence, but we are also acutely aware of the challenges facing the industry when it comes to growing that business.”

“We established the Phorest Growth Fund to give back to the community that has given us so much - from our own research, we know that for 42% of salons getting established, business planning and managing the financials of their businesses were the biggest challenges they faced, while 24% struggled with getting appropriate loans or funding. We have taken the next step in our growth journey with a new look and feel for 2022 and beyond; we want to help salons reach their next steps through The Phorest Growth Fund.”

The Phorest Growth Fund opened for applications on March 21, 2022, and the closing date is May 1, 2022. Interested applicants can find more details on how to apply here. The Phorest Growth Fund is overseen by an independent panel of industry experts and independent financial consultants. This year’s confirmed panelists include former CEO of Davines Group, Paolo Braguzzi, founder of Image Skincare, Janna Ronert, Editor-in-Chief of SALON TODAY, Stacey Soble, business coach for the salon/beauty industry, David Barnett, and business owner, author, and speaker Susan Routledge.