Contrary to popular belief, there is more to the tech industry than just crypto, so here is some non-crypto news for you.

theCut is an app that helps you find a good barber, but wait, there’s more.  It’s also a technology platform building a robust backend for barbers as well as a community around its services.

Growth stats.  The company was started in 2016 by Obi Omile Jr. and Kush Patel and has built an enviable track record since then.  According to its website, it has booked over 20+ million appointments and has 30,000+ barbers on the platform, and the barbers on the app have generated $500 million in revenues.  theCut is adding over 100,000 users/month and averages 1.5 million appointment bookings/month per Techcrunch.

App features.  On the customer side, the app provides information and reviews on barbers.  A quick look at the site reveals a pretty robust blog on topics beyond just haircuts.  On the barber side, the app helps setup and manage appointments, mobile payments and pricing on the back end.

$4.5M financing.  Nextgen Venture Partners led the financing; Elevate Ventures, Singh Capital and Leadout Capital joined. They have raised $5.35 million in total funding since the company was founded in 2016.  CEO Omile commented that there are 400,000 to 600,000 barbers in the U.S., and the market is growing, despite the downturn during the pandemic.

Leadout founder Ali Rosenthal commented that the founders were attractive in that they were experts in their markets and data-driven technologists who built a lot of traction with relatively little funding before the venture financing.

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