Trybe Announces $30M Series A Investment From Five Elms Capital

LONDON, Jan. 12, 2026 /PRNewswire/ -- Trybe, a leading provider of spa, bathhouse, leisure, and activity management software, today 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.

"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 personalization 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."

Trybe has experienced rapid growth in recent years, driven by strong demand from both single-location spas and large multi-site operators seeking to modernize their technology stacks. Today, the company supports hundreds of spa and leisure operations worldwide and is expanding quickly across resort groups, wellness brands, and luxury hotel operators.

"Trybe stands out as the clear modern alternative in a market long constrained by rigid, outdated systems," said Ryan Mandl, Partner at Five Elms Capital. "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."

The investment will support initiatives including:

• Geographic expansion across North America, Europe, and Asia-Pacific.
• Advancement of payments and embedded financial products, including enhanced settlement flexibility and expanded card-present capabilities.
• Product innovation, particularly in reporting, memberships, spa package booking functionality, and guest experience tools.
• AI-assisted feature development across yield management, scheduling, operations, and guest experiences.
• Sales, marketing, and customer success scaling to meet accelerating demand.

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.

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.

SOURCE Five Elms Capital