(L-R): CEO of Tippy David Tashjian and Founder and CIO of Tippy Terry McKim
DirectTIPS LLC, parent company of Tippy, a digital tipping application for the salon and spa industries, announced Wednesday it has closed $1.65 million in Series B funding, bringing its total funding to $3.15 million. The proceeds raised will now support its nationwide roll out.
The funding was led by Doug Von Allmen, founder of Beauty Alliance (now SalonCentric), and The Lehigh Valley Angel Investors’ Group. Other individuals involved include Pat Parenty, former President of L’Oréal’s Professional Products Division, and Michael Caron, a private investor.
“The last 12 months have been spent building and testing our new POS agnostic product that allows for nationwide scalability,” stated David Tashjian, CEO/President of Tippy.
According to the company, Tippy is already operating in 60 salons. Its focus is increasing tips for service professionals and depositing them into their personal bank accounts the next day.
The Tippy mobile app is now available in the app stores, and the salon-based customer facing terminal is available here. DirectTIPS, which is the parent company of Tippy, is headquartered in Ft. Lauderdale, Florida.