Spa and leisure management software company Trybe has secured a US$30 million (€26.9 million, £21.6 million) investment from Five Elms Capital, a growth investor in software businesses.

Trybe will use the funds to expand globally, develop its platform and innovate new product features.

Global expansion

A spokesperson for Trybe told Spa Business the company has seen widespread success in mainland Europe and it is now targeting regions with deep-rooted sauna cultures and technology-enabled wellness experiences – such as those in Scandinavian countries and the DACH market. 

They added: “These territories provide an ideal foundation for partnering with operators looking to modernise payments, bookings and guest journeys. We’ve already seen huge success with Strawberry Hotels, and we’re hoping to see this continue across the region.”

North America is another key priority for the company’s growth, as demonstrated by the recent hiring of Sal Capizzi as senior vice president of growth and marketing for the company. Trybe is building its US business development team and increasing its presence at major industry events to facilitate its growth in the region.

The spokesperson added that, in Asia-Pacific, Trybe has seen strong interest from bathhouses and saunas – including Australian spas Aurora and Sense of Self.

“Building on this traction, Trybe plans to expand further into hotels, resorts and standalone spas across the region,” they said.

Development and innovation

The deal will also accelerate the development of its platform, with improvements to payment capabilities and embedded financial products. Trybe will create new product features to support reporting, memberships, spa package booking functionality and guest experience tools.

The company will incorporate AI-powered workflows to assist with scheduling, operations, guest experiences and yield management.

Ricky Daniels, co-founder, Trybe, said: “Spa and leisure operators are facing increasingly complex operations, payments and guest-experience challenges. Legacy systems simply haven’t kept up. 

“We built Trybe to give operators a flexible, modern operating system that maximises revenue, reduces friction and unlocks exceptional guest experiences,” he added. “As we look ahead, we see meaningful opportunities to introduce AI-assisted scheduling, forecasting and personalisation into the platform – capabilities that will further streamline operations and capture revenue previously lost to manual inefficiencies. Partnering with Five Elms allows us to accelerate this roadmap and deliver even more value to our customers.”

Ryan Mandl, partner at Five Elms Capital, said: “Trybe stands out as the clear modern alternative in a market long constrained by rigid, outdated systems. The Trybe team has built a configurable, intuitive platform that customers genuinely love, and their traction across geographies and spa and leisure segments reflects that. We’re thrilled to support Trybe as they scale globally, deepen their payments capabilities and continue building a category-defining product.”

Trybe

Founded in 2020, Trybe has experienced rapid growth in recent years. It now supports more than 32 properties’ spa and leisure operations in 33 countries. The company attributes its growth to strong demand from both single-location spas and large multi-site operators seeking to modernise their technology stacks.

Five Elms Capital

Five Elms Capital has more than US$3 billion (€2.7 billion, £2.2 billion) in assets under management and has invested in more than 70 software platforms worldwide.

The company delivers strategic and operational expertise to help partners grow and innovate for long-term success.