43North Finalist Shearshare Joins National Endeavor Network

ShearShare, a former and fast-growing 43North winner, joins Endeavor’s national network.

The Texas startup that moved to Buffalo after winning $500,000 in the 43North competition in 2021 was one of two companies to pass evaluation by a national selection panel assembled by the network of entrepreneurs during a program held this month in Buffalo.

The Influential Entrepreneur Panel was launched about two years ago to allow Endeavor’s U.S. offices to help candidate companies prepare for final selection before an international panel.

Endeavor, which opened an office four years ago in Western New York, offers a global network with access to entrepreneurial mentors, services and capital providers.

ShearShare co-founder Courtney Caldwell said the national selection panel took a deep dive into the company – a platform for renting hair salons and salon booths. She and her husband and company co-founder, Dr. Tye Caldwell, left the process with notebooks full of “meaty” information and comments.

“I don’t think anyone can prepare you for a good three hours of questions about your business. But what’s so valuable is that these people are entrepreneurs themselves, so they’re operators who see startups all the time. You really feel that feeling of support,” said Courtney Caldwell, who became the first female founder of the Endeavor WNY network to pass this national judging panel.

Since arriving in Buffalo in 2022, ShearShare’s revenue has doubled, its app-delivered services are now offered in 970 cities, and it landed a first corporate partnership with JC Penney, which has 629 salons.

The Caldwells hired angel investor Digvijay Singh as chief technology officer and now have five full-time and one part-time employees, most working remotely. Additionally, ShearShare is close to completing a fundraising round and working with Google on a project leveraging artificial intelligence.

“The growth has been unprecedented,” Courtney Caldwell said. “If someone had told us that all we had to do was move to Buffalo to change our business this way, I would have said, ‘No, I don’t think you’re in the right state. spirit. But that’s exactly what we experienced, and I don’t think we’re the only ones.

Tye Caldwell, an entrepreneur for 30 years, said the national selection panel takes note of how teachable the founders appear and whether they are able to take criticism constructively and learn from it. These are aspects of business that the Caldwells have become accustomed to through their daily experiences with investors, board members and their own team, he said.

“They’ve already seen the type of levers that companies have to pull to get to a certain point,” he said. “I think it’s not just about awareness and resources, but also about relationships, so it’s something that we see as being really good for us.”

The criteria for passing the national selection panel includes companies clearly demonstrating that their product is or is close to market fit, making Endeavor’s resources particularly valuable. And Endeavor members are expected to give back by mentoring businesses that join the network after them.

“We are now ready to step up in a big way to help the ShearShare team achieve their important goals, navigate challenges and continue to grow their business at a rapid pace,” said Alan Rosenhoch, Managing Director of Endeavor WNY.

ShearShare was first introduced to Endeavor after being introduced to the 43North ecosystem, and that relationship produced some early connections for the growing company. Rosenhoch then came to the Caldwells earlier this year and told them he thought they were ready to go before the national selection panel.

“We stayed here longer than the 12 months required by 43North because we fell in love with the city of Buffalo,” Courtney Caldwell said. “We’ve been trying to tell every founder we can about Buffalo and let them know that there’s a community of people here to not only grow your business, but to support the entire founder. I don’t know of any other place that’s like this.