Get All Access for $5/mo

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

Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.