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Bain Capital Ventures backs Manicube

16 Apr 2014

maniManicure startup Manicube has secured a $5m Series A round led by Bain Capital’s venture arm and backed by its existing investors including F Cubed.

Manicube, which offers 15-mimnute manicures to offices, currently has more than 90 corporate clients in New York and Boston which include Fortune 100 businesses.

The company noted that the US nail services market is expected to grow at nine per cent annually over the next five years and reach $10.7bn in 2018.

The funds will enable Manicube to accelerate the rollout of its mail services to other US markets starting with Chicago in May.

Manicube also plans to expand into other services and products and will launch a direct-to-consumer on-demand offering to serve individuals and small groups in late 2014.

Bain Capital Ventures managing director Scott Friend said, “We are extremely impressed with the traction Manicube has created with its corporate partners and their employees in such a short period of time, and we’re excited to be able to support the team’s aggressive expansion nationwide.”

Last month Bain Capital Ventures and Genstar got a 3.8-times return on their investment in software group TravelClick through the $930m sale to Thoma Bravo.

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