Engagement — Add-on Due Diligence
Code & Co. advises Five Elms Capital on Tech, Product, & AI Due Diligence ahead of its investment in Trybe, a modern end-to-end platform powering the complex operations of spas, wellness centers, and leisure facilities around the world.
Trybe, a leading provider of spa, bathhouse, leisure, and activity management software, has announced a $30 million USD Series A investment from Five Elms Capital. This investment will enable Trybe to expand globally, accelerate development of its next-generation platform, incorporate AI- powered workflows to enhance guest experiences, and scale its go-to-market organization to meet growing demand.
Scope of Work
Code & Co. conducted a technical review of Trybe’s cloud-based platform for spa and wellness operations, including an assessment of its architecture, infrastructure, and technology stack, as well as its scalability, security foundations, core PMS integrations, AI capabilities and readiness for international expansion.
Additionally, the lean and stable engineering organization and software development lifecycle were evaluated, covering development and product management practices and quality assurance.
About Trybe
Founded in 2020, Trybe is the modern end-to-end platform powering the complex operations of spas, resorts, hotels, bathhouses, wellness centers, and leisure facilities around the world. Supporting 325+ properties across 33 countries. Trybe delivers a fully integrated suite spanning online bookings, scheduling, staff management, memberships, POS, guest communications, reporting, and payments, all within a modern, configurable cloud architecture. With over 4.5M transactions processed representing $1.1bn+ of revenue volume processed, 50% of all bookings occurring outside office hours, and 74% of bookings captured as part of a broader spa package, Trybe consistently proves its impact on revenue, utilization, and the guest experience. For more information, visit try.be.
About Five Elms Capital
Five Elms Capital is a growth investor in software businesses that users love, providing capital and resources to help companies accelerate growth and further cement their role as industry leaders. With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in more than 70 software platforms worldwide. Beyond providing capital, Five Elms delivers strategic and operational expertise, focused on executing initiatives that move the needle on growth, retention, product, and AI to set companies up for long-term success. For more information, visit fiveelms.com.