Zenoti raises an additional $80 million in its Series D funding

SaaS News -Zenoti-Raises-$80-Mn-In-Series-D(source: SaaS Industry)
At a Glance

In its Series D round, Zenoti, a spa and salon SaaS platform, raised an extra $80 million. TPG, a worldwide alternative asset fund, led the investment. In a $160 million Series D investment round last December, the firm became a unicorn. Zenoti’s nine offices handle over 12,000 global brands.

Zenoti, a spa and salon SaaS platform, has raised an additional $80 million in its Series D round. This additional funding was led by TPG, a global alternative asset fund. 

Last December, the company turned unicorn when its valuation crossed $1 billion in a $160 million Series D funding round led by Advent International. Zenoti became the first vertical SaaS startup to enter India’s unicorn club.

Zenoti is an all-in-one cloud-based platform for salons, spas, and medi-spas founded in 2010 by Sudheer Koneru and Dheeraj Koneru. Appointment scheduling, online booking, billing, built-in marketing, inventory management, CRM, and loyalty functions are included. Fitness organizations may now use the company’s offering.

Founded in 2010, the firm relocated its headquarters to the United States in 2014, although it still employs over 80% of its workers in India. Over 12,000 worldwide brands are serviced by the company’s nine locations, which employ 550 people.

Zenoti plans to use the fresh funds for M&As and to give ESOP liquidity to employees following the new investment round, according to the business. Zenoti has raised around $331 million in total finance to date.

We are privileged to have the trust, confidence, and support of TPG as we continue our growth journey. Zenoti remains committed to helping beauty, wellness, and fitness businesses reach their full potential and set the standard for the customer experience.

Sudheer Koneru, founder and CEO of Zenoti,

Zenoti has created the go-to cloud-based platform for leading beauty and wellness brands looking to grow their businesses and create better experiences for their customers.

Arun Agarwal, managing director at TPG

The United States generates the majority of Zenoti’s revenue, followed by the United Kingdom. In 2020, the firm grew by 100% year over year, and it collaborates with major companies such as European Wax Centre, Toni & Guy, and Rush Hair & Beauty.

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