Personal and laundry services

Payments-attached and well funded, with Fresha competing at zero subscription cost by monetising payments alone — a free-alternative problem in a vertical market rather than a horizontal one. Nothing is disclosed here. Every vendor named on this record is private, or sits inside a parent that does not break the line out, so no revenue floor can be built and the market size is genuinely unknown rather than estimated.

Medspas straddle two codes. They are filed here under 812190 (other personal care services), but the injecting, prescribing and supervising happen under a medical director, which is physicians'-office work (621111). The software follows that split. How this differs from salon and spa software (812115): the salon stack is booking, staff, retail and payments. A medspa needs all of that plus a clinical record. That means injectable charting on a face map with units, product and lot numbers; signed treatment consents; before-and-after photos; good-faith exams and medical-director sign-off; e-prescribing; and memberships and loyalty programs that sell treatment packages ahead of time. The customer is also different. AmSpa counted 10,488 US medspas in 2023, up from 8,899, averaging about $1.4M in revenue each; 81% are single-location, and 67% of single-owner practices are owned by non-physicians [B, association survey]. That is a larger ticket than a salon, and the owner carries medical liability. There is no single incumbent; two camps meet in the middle. On the clinical side, PatientNow (owned by PSG; 5,000+ locations claimed), Aesthetic Record (9,000+ clinics claimed) and AestheticsPro (claims nearly 30% of US and Canadian medspas) sell an aesthetics EMR with booking attached. Nextech, which TPG bought for $1.4B in 2023 [B], covers the surgeon and dermatologist end. On the salon-platform side, Boulevard ($80M Series D led by JMI Equity, July 2025, about $800M valuation, about $188M raised) says medspas are its fastest-growing segment and that it powers about 15% of US medspas [B; share C]. Zenoti (about $331M raised, valued near $1.5B in 2021) [B] and Mangomint (about $48M) [B] sell medspa editions of their salon software. The vendor claims add up to more clinics than AmSpa counts, so the shares overlap or are inflated. The obvious wedges are already funded. Moxie ($51M total; $25M Series C led by Viewpoint Ventures, March 2026) [B] bundles EMR, compliance, medical-director matching and coaching for a share of practice sales, which is closer to a franchise or management company than to SaaS. RepeatMD ($50M Series A including $10M of debt, co-led by Centana Growth Partners and Full In Partners, November 2023) [B] owns memberships, rewards and e-commerce as an add-on that plugs into the EMRs. PatientNow bought Recura (an AI receptionist) in November 2025 [B]. A new entrant would face PE-owned EMRs, three venture-funded booking platforms that already process medspa payments, and funded specialists in the two places a newcomer would start: compliance and memberships. Incumbent vulnerability decides it. No vendor publishes revenue.

Genuinely underserved and genuinely tiny. Roughly 19,000 US funeral homes at achievable ACVs gives a ceiling too low to justify a dedicated build, though it would suit a solo operator content with a lifestyle outcome. Nothing is disclosed here. Every vendor named on this record is private, or sits inside a parent that does not break the line out, so no revenue floor can be built and the market size is genuinely unknown rather than estimated.

Togetherwork has rolled up the category and monetises card volume through the booking flow, which puts the licence price where the salon and fitness records found it — at or near zero for anyone who cannot process payments. The pain is real and the willingness to pay for software alone is not. Nothing is disclosed here. Every vendor named on this record is private, or sits inside a parent that does not break the line out, so no revenue floor can be built and the market size is genuinely unknown rather than estimated.

Two roll-ups now hold both ends of this market, and both have more capital than any new entrant could raise. On the operator side, Metropolis bought SP+ for about $1.5B in enterprise value in May 2024. It funded the deal with $1.05B of Series C equity and $550M of term debt, led by Eldridge Industries [B, company release]. That made it what it calls the largest parking operator in North America, with more than 4,000 locations [C, vendor]. In November 2025 it added a ~$500M Series D led by LionTree and a $1.1B term loan at about a $5B valuation [B, company release]. Metropolis is both the customer and the vendor: it runs garages with its own computer-vision checkout instead of buying PARCS from someone else. On the municipal and on-street side, EasyPark Group bought ParkMobile in 2021. It closed on Flowbird, the pay-station maker, in January 2025 and added Parkopedia. In June 2025 it renamed itself Arrive, now covering 90+ countries and 20,000 cities [C, vendor]. France's competition authority cleared the Flowbird deal and found no foreclosure risk [A, regulator]. So the app, the meter and the parking-data layer now sit with one PE-owned group (Vitruvian, Verdane, Searchlight). The middle tier is well funded too. Flash raised $250M+ led by Vista at a $1B+ valuation in 2022 for cloud PARCS. Passport had raised $125M by 2019 for municipal mobile pay, permits and enforcement. ParkHub merged with the UK's JustPark in 2024 on an FTV Capital growth round and now trades as JustPark. The one measurable incumbent is stagnant, but that is not an opening. T2 Systems (universities, hospitals, municipalities; permits, enforcement, pay stations) is the only vendor here with published revenue. Verra Mobility paid $347M for it in 2021, when it expected nearly $80M of revenue. Its Parking Solutions segment reported $82.6M for 2025, flat in four years. Customers fell from more than 1,900 to about 1,775, and Verra wrote off $97.1M of the segment's goodwill in 2024 [A, 10-K]. The accounts Verra is losing are going to Passport, Flash and the Arrive brands, which already have the capital and the city contracts. They are not open to a new entrant.