Glamplus Raises $700,000 In Pre-Series A Round The funds will be utilized to scale tech capabilities along with expanding B2B marketplace

SaaS enabled marketplace startup Glamplus has raised $700,000 in a pre-Series A round from Blume Ventures, Ramakant Sharma (COO- Livspace) and participation from existing investors IPV. The funds raised will be utilised in vertical tech SAAS capabilities along with expansion of B2B marketplace business to scale to 10,000 partners and monthly revenues of INR 5 crore per month by March 2022.

"We have a strong thesis on vertical SaaS enabled marketplaces and believe that Glamplus has done a stellar job at solving a lot of friction in the workflow for salons/spas through their SaaS solution, which has enabled them to drive marketplace revenue at a rapid pace. When we met the team around a year back they had only a concept and in the past year they have not only built out a solid product but also in the six months since launch, they have been able to drive phenomenal growth while maintaining very strong retention numbers! 4000-plus salons with 25 lakhs monthly SaaS revenue and 3 crore monthly marketplace GMV in six months with a positive CM1 is no mean feat and we are super excited to be part of this journey," said Anirvan Chowdhury vice president of investments - Blume Ventures.

Glamplus has an AI based CRM platform, which enables salon/spa owners to manage their operations and services end to end through an online web or android mobile app. This has helped them improve the overall salon experience for their customers and staff. Platform also allows to premiumize the salon owner's offering via B2B2C interaction to the end customer and also integrates scheduling appointments, generating digital invoices, offer promotional offers through Bulk SMS/Whatsapp and loyalty schemes for customers. The salon owner can track the efficiency of the stylists, monitor revenue generation on daily, weekly and monthly basis, inventory management of products and services offered by the salon, said a statement.

"With the rise in disposable income and more women joining workforce in tier one cities, beauty and wellness services have witnessed an upsurge. People are now more conscious about their appearance and are willing to spend. To cater to this rising need more efficiently, Glamplus has created an end-to-end B2B2C solution for salons, spas and gyms which will help them to run their operations smoothly. Since January 2021, the company has successfully tied up with 4,000 partners and plans to grow faster in the coming year. The fast pace growth trajectory clearly shows the need for this solution in the emerging market and IPV looks forward to extending their support in their journey," said Mitesh Shah, co-founder of Inflection Point Ventures.

With the rise in awareness about holistic wellbeing, spending on beauty and wellness products and services has increased. According to the Indian Beauty and Hygiene Association (IBHA), the beauty and wellness market in India is expected to reach INR 2,463.49 billion by 2024, expanding at a compound annual growth rate (CAGR) of ~18.40 per cent during the 2019-2024 period, added the statement.