DirectTIPS successfully completed its Series A funding of $1.5 million for Tippy, a disruptive, digital tipping system for the beauty industry. Proceeds will be used to accelerate product innovation and market expansion.
Funding was led by Douglas Von Allmen, founder of Beauty Alliance, the largest privately-owned professional beauty products distributor in the country at the time of its acquisition by L’Oreal in 2007. Additionally, Mr. Von Allmen is the primary investor in BehindTheChair.com, the largest community of salon professionals in the world with over 600,000+ active members.
The round was joined by The Lehigh Valley Angel Investors’ Group and private investor, Michael Caron.
Through the funding process and the success of its 12-month beta test, DirectTIPS assembled a group of industry titans led by Pat Parenty, former President of L’Oreal’s Professional Products Division, where he was responsible for the development of several well known market leading brands, Redken, Matrix, L’Oreal Professional, Pureology, Kerastase , Mizanias well as Essie nail professional, Baxter men’s ,and Decleor and Carita Professional skin care brands.
With over 35 years experience in the industry, Mr. Parenty’s career was driven by his belief in developing the skills and abilities of salon professionals, which fundamentally aligned with DirectTIPS’ mission and vision for their products.
Also joining the Board is Michael Sampson, an innovator in prestige beauty who specializes in building a global footprint focusing on channel diversification, product development, digital strategy and consumer engagement. He spent over a decade at L’Oreal, where he was General Manager of L’Oreal Prestige Professional Brands, Kérastase and Shu Uemura. Mr. Sampson is currently CEO of Kate Somerville Skincare LLC.
DirectTIPS CEO/President David Tashjian explains, “The funding was the successful culmination of building a disruptive platform to benefit salon professionals, and attracting industry leaders such as Pat Parenty, Douglas Von Allmen, and Michael Sampson. Their respective investment and involvement was Tippy’s true product validation. We’re excited to have their guidance as we launch this summer.”
To request an interview with representatives from DirectTIPS, please contact Sara Shake of Mad PR at 954.336.3275 or email@example.com.
DirectTIPS is the parent company of Tippy, a digital tipping system for industry professionals by industry professionals. Tippy’s disruptive technology offers a suite of tools reducing salon owners’ processing fees and improving service providers’ tips, helping them to meet and exceed financial goals. Tippy is headquartered in Ft. Lauderdale, FL and launches in August 2018. For more information, visit directtips.com.
Pictured on top From Left to Right: Terry McKim, COO, David Tashjian, CEO/President, Jeff Rudner, CFO