SaaS Startup Zenoti Raises $160 million; Joins Unicorn Club
Zenoti, a provider of cloud based software for the beauty and wellness industry has raised $160 million in series D funding. With the completion of the round the firm’s evaluation has jumped up to $1 billion, catapulting the company into the coveted unicorn club. The round was led by Advent Tech and Sunley House Capital, an affiliate of global private equity investor Advent International.
Other participants of the round were Tiger Global and Steadview. The company has raised a total of $250 million across various funding rounds so far.
Founded in 2010 by Anand Arvind, Dheeraj Koneru, Saritha Katikaneni and Sudheer Koneru, Zenoti provides an all-in-one, cloud-based software solution for the spa, salon, and med spa industries. The idea came about to the founders while dealing with clunky and archaic desktop systems while running a successful chain of spas & salons in India.
Zenoti’s enterprise solution enables users to manage various aspects of a business in a comprehensive mobile solution with online appointment bookings, POS, CRM, employee management, inventory management, built-in marketing programs etc. SudheerKoneru, Co-founder and CEO at Zenoti, said: “Zenoti remains committed to helping businesses find their greatness and achieve better business performance, including higher revenues and increased operating margins, while enabling our industry to set new standards for the consumer experience.”
The company today caters to over 12000 businesses across the globe and supports more than 1000 brands. Headquartered in Bellevue, Zenoti’s India office houses almost 70 percent of its workforce, close to 400 employees. The fresh infusion of capital will be utilized by Zenoti to continue scaling its operations, support research and development, and to fuel further AI innovations, including advanced algorithms leveraging Zenoti's rich enterprise system data to optimise customer employee scheduling, inventory management, marketing, and dynamic pricing to enhance profitability and efficiency. The company will that undertake inorganic growth opportunities and is looking to acquire some companies in the space over the next fiscal, in order to enter newer segments of physical therapy, fitness and pet spas.
To date, Zenoti has raised a total of approximately $250 million.
Other participants of the round were Tiger Global and Steadview. The company has raised a total of $250 million across various funding rounds so far.
Founded in 2010 by Anand Arvind, Dheeraj Koneru, Saritha Katikaneni and Sudheer Koneru, Zenoti provides an all-in-one, cloud-based software solution for the spa, salon, and med spa industries. The idea came about to the founders while dealing with clunky and archaic desktop systems while running a successful chain of spas & salons in India.
Zenoti’s enterprise solution enables users to manage various aspects of a business in a comprehensive mobile solution with online appointment bookings, POS, CRM, employee management, inventory management, built-in marketing programs etc. SudheerKoneru, Co-founder and CEO at Zenoti, said: “Zenoti remains committed to helping businesses find their greatness and achieve better business performance, including higher revenues and increased operating margins, while enabling our industry to set new standards for the consumer experience.”
The company today caters to over 12000 businesses across the globe and supports more than 1000 brands. Headquartered in Bellevue, Zenoti’s India office houses almost 70 percent of its workforce, close to 400 employees. The fresh infusion of capital will be utilized by Zenoti to continue scaling its operations, support research and development, and to fuel further AI innovations, including advanced algorithms leveraging Zenoti's rich enterprise system data to optimise customer employee scheduling, inventory management, marketing, and dynamic pricing to enhance profitability and efficiency. The company will that undertake inorganic growth opportunities and is looking to acquire some companies in the space over the next fiscal, in order to enter newer segments of physical therapy, fitness and pet spas.
To date, Zenoti has raised a total of approximately $250 million.
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