# ShearShare

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shearshare

- Industry: Internet
- Headquarters: McKinney, US
- Website: www.shearshare.com
- Total disclosed funding: $5.7M
- Latest round: Seed (Feb 1, 2022)
- Investors on record: 21

## About

Based in Texas, US, and founded in 2017, SmileBack, LLC operates as a developer of a mobile application that offers a gig economy in the beauty industry connecting salon suites with individual beauty professionals for on-demand rentals. In February 2022, the firm raised USD 2.3 million in seed funding led by investor Fearless Fund, with participation from other investors Chloe Capital, Level Up Ventures, and New York State’s Empire State Development Fund. The firm, as of May 2024, is led by its founders Tye Caldwell (CSO) and Courtney Caldwell (CEO).

The company offers a B2B platform, ShearShare, for the salon and barbershop industry by connecting space owners with independent beauty professionals. ShearShare addresses the need for flexible, affordable workspace solutions in the beauty industry. The company enables salon and barbershop owners to monetize their unused spaces, turning empty suites and stations into revenue-generating assets. This approach also helps beauty professionals rent workspaces on demand, without long-term contracts or commissions, in over 900 cities (as of May 2024).

The firm generates revenue by listing fees and service charges associated with the rental transactions on its platform. Beauty professionals can rent space starting at USD 15 per day at a daily liability insurance as well as portable healthcare benefits and free point-of-sale hardware for USD 5.

## Funding rounds

- Seed, Feb 1, 2022, $2.3M — New York Ventures, Chloe Capital, Fearless Fund, Level Up Ventures
- Seed, Oct 26, 2020, $2.3M — Lightspeed Venture Partners, Revolution Ventures, 500 Global, Structure Capital, Precursor Ventures, Notley Ventures, Backstage Capital, Bread & Butter Ventures, Bumble, ArlanWasHere Investments, Reform Ventures, Sachse Family Fund, Minority Entrepreneurship Institute
- Seed, Apr 13, 2018, $1.1M — 500 Global, Capital Factory, Y Combinator, Structure Capital, Precursor Ventures, Backstage Capital, Blackstone Charitable Foundation, Asian Cowboy

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Capital Factory (https://capitalatlas.ai/funds/capital-factory) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Structure Capital (https://capitalatlas.ai/funds/structure-capital) — Seed
- Precursor Ventures (https://capitalatlas.ai/funds/precursor-ventures) — Seed
- Backstage Capital (https://capitalatlas.ai/funds/backstage-capital) — Seed
- Blackstone Charitable Foundation — Seed
- Asian Cowboy — Seed
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Seed
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed
- Notley Ventures (https://capitalatlas.ai/funds/notley-ventures) — Seed
- Bread & Butter Ventures (https://capitalatlas.ai/funds/bread-butter-ventures) — Seed
- Bumble (https://capitalatlas.ai/funds/bumble) — Seed
- ArlanWasHere Investments — Seed
- Reform Ventures — Seed
- Sachse Family Fund (https://capitalatlas.ai/funds/sachse-family-fund) — Seed
- Minority Entrepreneurship Institute (https://capitalatlas.ai/funds/minority-entrepreneurship-institute) — Seed
- New York Ventures (https://capitalatlas.ai/funds/new-york-ventures) — Seed
- Chloe Capital (https://capitalatlas.ai/funds/chloe-capital) — Seed
- Fearless Fund (https://capitalatlas.ai/funds/fearless-fund) — Seed
- Level Up Ventures (https://capitalatlas.ai/funds/level-up-ventures) — Seed