Spa and salon software startup Zenoti Software has raised $160 Million in a Series D funding round making it the first vertical software-as-a-service (SaaS) startup in India’s unicorn club.
The round was led by Advent International through Advent Tech and Sunley House Capital. Along with the participation from Tiger Global Management and Steadview Partners.
Zenoti cofounder and CEO Sudheer Koneru believes that the funding will enable the company to further accelerate the pace of innovation and reposition the industry to address heightened consumer expectations for health and safety during the global pandemic. He added that Zenoti has built its tech solution over the last couple of years, and Covid accelerated the need for customers to adopt it to reopen safely. “It is not just better hygiene but IT infrastructure which is touchless and meets the heightened expectations in the stores,” he said.
Founded in 2010 by Sudheer Koneru and Dheeraj Koneru, Zenoti is an all-in-one, cloud-based software for salons, spas, and medi-spas. It boasts of rich capabilities across appointment scheduling, online booking, billing, built-in marketing, inventory management, CRM, and loyalty features.
Further, the company will also use the funding to continue scaling operations, support research, and development and to fuel further A.I. innovations, including advanced algorithms leveraging Zenoti’s enterprise system data to optimize customer employee scheduling, inventory management, marketing, and dynamic pricing to enhance profitability and efficiency.
The company claims over 12,000 business customers in over 50 countries including global brands such as European Wax Center, Hand & Stone, Massage Heights, Rush Hair & Beauty, Sono Bello, Hair Cuttery, Profile by Sanford, and Toni&Guy.