Millennium Systems International, Makers of the Award-Winning “Meevo 2” Software, Brings on Partner Serent Capital to Accelerate Growth

Millennium Systems International, Makers of the Award-Winning “Meevo 2” Software, Brings on Partner Serent Capital to Accelerate Growth

Investment positions the company for accelerated growth and continued product innovation

September 22, 2021

Millennium Systems International, Makers of the Award-Winning “Meevo 2” Software, Brings on Partner Serent Capital to Accelerate Growth

Investment positions the company for accelerated growth and continued product innovation  

Millennium Systems International (“Millennium” or “MSI”), a leading software provider to the spa and salon industry, announced that it received a minority investment from Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies.

Millennium’s award-winning end-to-end Meevo 2 platform allows salons and spas to manage the critical areas of their business, from customer acquisition and retention to operations and billing. The company’s software powers over 150,000 users daily and processes billions of dollars in transactions for its thousands of customers across the globe. The investment will help the company expand its go-to-market, continue its product innovation, and further establish its leading position within the beauty and wellness space.

The company has recently been active in product innovation, including offering a contactless experience for beauty and wellness clients. Millennium recently announced advancements in its product security, including HIPAA Compliance and artificial intelligence (AI) and Machine Learning (ML) features.

John Harms, Founder and CEO of Millennium, shared, “We are excited to partner with Serent Capital and bring together the depth of Millennium’s industry knowledge built over three decades with Serent’s vast experience and resources in vertical software and with integrated payments. We waited 30 years to bring on a capital partner, but today was the right time, and Serent is the right partner. Together we look forward to building more products and functionality that our customers love and providing the best possible experience for spas and salons.”

“We have gotten to know John and Millennium since 2014 and developed a great respect for the team, their new cloud-based product Meevo 2, and their loyal customers,” said Stewart Lynn, Partner at Serent Capital. “We’re thrilled to partner with them as we look to help scale an already special business and position it for the next chapter of growth,” he concluded.

Serent has been an active investor in vertical software with integrated payments across several industries, including the lawn care industry with Real Green Systems, the landscape industry with LMN, the education industry with KEV Group, and the athletic event management industry with ArbiterSports.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

Serent

TOOLKIT

Want to receive more updates on Serent Capital?

At Serent Capital, we work hard to create effective and longstanding growth with all our portfolio companies. Here’s what we’ve been up to recently.

Disclaimer:

Nothing presented herein is intended to constitute investment advice, nor sales material, and no investment decision should be made based on any information provided herein. Information provided reflects Serent's views as of a particular time and are subject to change without notice. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. While Serent has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Past performance is not indicative of future results. There can be no guarantee that any investment strategy employed by Serent will be successful. A full list of portfolio holdings is available on Serent's website.