Phorest, an Ireland-based salon software company, is launching its U.S. headquarters on Thursday in Philadelphia, and plans to have at least 30 employees by the year’s end, nearly doubling its U.S. presence.
Phorest has more than 7,000 clients in Ireland, the United Kingdom, Finland, Germany, and the United States. It just opened an office at 100 S. Juniper St. that will be its base for U.S. operations, said North American general manager Barry Quinn.
Part of its investment capital derives from Susquehanna International Group (SIG), a privately held financial services firm. Based in Bala Cynwyd, SIG has more than 2,000 employees worldwide, and employs 500 people at its office in Dublin.
Phorest was founded by Ronan Perceval in 2003 and now employs 200 people in Ireland, Europe, and Philadelphia. It sells office management software for hair and beauty salons for bookings, appointments, staff, stock, and marketing campaigns.
“We are a B2B software company in one vertical of hair and beauty," Quinn said. The U.S. represents about 17.5% of total clients.
Among other investors, Phorest has raised 20 million euros from Susquehanna Growth Equity (SGE), a fund within Susquehanna International Group.