Zenoti Raises $80 Mn In Series D Funding Round The latest capital infusion, which pegs Zenoti's post-money valuation at $1.5 billion, is an extension of the SaaS startup's Series D funding round

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

Enterprise cloud platform Zenoti for the beauty, wellness, and fitness industries announced to have raised an additional $80 million as an extension to its Series D funding round, according to a report.

The additional investment was led by TPG, a global alternative asset firm that has invested in leading technology companies such as Airbnb, Kajabi, Toast, and Uber. The investment increases Zenoti's valuation to almost $1.5 billion.

Powering more than 12,000 businesses in over 50 countries, Zenoti is software for salon and spa businesses. The company has recently expanded into the fitness industry through partnerships with CorePower Yoga and other fitness leaders. Zenoti's touchless and mobile solutions serve all aspects of consumer engagement, allowing for easy appointment scheduling, self-check-ins, automatic payments, and more, the report said.

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

The additional investment builds on a time of significant momentum for Zenoti, having achieved 100 per cent year-over-year growth in 2020. The additional capital will enable the company to continue to expand its platform through forthcoming M&A, while also providing some liquidity to its employees for their commitment and hard work to the organization over the last decade, it said.

"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," added Arun Agarwal, managing director, TPG. "As consumers across the globe continue to prioritize self-care, we believe the company is well-positioned for strong growth."

Zenoti has a portfolio of global brands including European Wax Center, Hand & Stone, Massage Heights, Rush Hair & Beauty, Sono Bello, Hair Cuttery, Profile by Sanford, and, most recently, Toni&Guy, the report further shared.

Prabhjeet Bhatla

Former Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Leadership

International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

Business News

Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

During a tough fundraising year overall last year, the value of cybersecurity and AI unicorns saw double-digit growth.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

These Are the Top 6 AI Threats to Your Business Right Now

The modern workforce is forever changed by artificial intelligence. If you fail to understand that we will all need to learn AI to some degree, you haven't been paying attention.

Business News

A 29-Year-Old CEO Quit Microsoft To Build His Startup — And Just Scored A Deal on Shark Tank

Aabesh De tapped into a niche need during the pandemic and founded Flora, a houseplant care startup.

Business News

Airbnb Renter Discovers Hidden Door, Says Police Confirm There's a Secret Unit Upstairs With 'Surveillance': 'A Terrifying Experience'

One bride-to-be was in for a not-so-welcome surprise when she discovered a secret door in her Airbnb rental.