Vagaro, the leading cloud-based business management platform for beauty, fitness and wellness businesses, today announced it has raised a new round of funding led by FTV Capital, which previously invested in the company in 2018. Exact terms of the investment are not being disclosed. In line with Vagaro's growth, this new funding values the company at $1 billion.

Vagaro develops all-in-one business management platforms and powerful online marketplaces for the salon, spa and fitness industries. Businesses in the United States, Canada, the United Kingdom and Australia use Vagaro's cloud-based software to manage all aspects of their operations and to market their services to local customers. Consumers choose Vagaro to search for and book services in their community at their convenience. Vagaro is easy-to-use and works on any device.