Trybe bags over £20M in Series A investment from Five Elms Capital

Investment to accelerate product innovation in spa and leisure market

Trybe, a spa, leisure, and activity management software specialist, has announced a £23.3 million ($30 million USD)  Series A investment from Five Elms Capital.

The firm which has experienced rapid growth in recent years, driven by strong demand from both single-location spas and large multi-site operators seeking to modernise technology stacks will now be able to expand globally, across North America, Europe, and Asia-Pacific. 

It will also use the investment to accelerate development of its platform, incorporate AI-powered workflows to enhance guest experiences, and scale its "go-to-market organisation to meet growing demand".

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

“We built Trybe to give operators a flexible, modern operating system that maximizes revenue, reduces friction, and unlocks exceptional guest experiences. 

"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at Five Elms Capital, added: “Trybe stands out as the clear modern alternative in a market long constrained by rigid, outdated systems.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.”