Zenoti Software, which is a salon and spa software startup, has now secured $20 million from SteadView Capital. But less than three months after closing a $50 million investment led by Tiger Global.
The investment indicates continued investor interest in a backing software startup, which is based out of India, which targets global problems.
The Hyderabad and Seattle-based company focuses on cloud-based back-end services. Which include the payroll of employees, appointment booking, managing financials, and inventory management.
In the month of May, Zenoti $50 Million led by Tiger Global Management. But along with some of the existing backer’s Accel Partners and Norwest Venture Partners. The company as of now secured $91 million to date.
We see a lot of opportunities in terms of expanding offerings within our market, including expanding to adjacent categories like pet spa and car spa. and at the same time go deeper into our product offering by fully automating inventory, product, with more predictive algorithms.
Sudheer Koneru, CEO and cofounder, Zenoti
But the company, as of now has a plan to make a few acquisitions in this space to boost up the growth.
Some of the competitors in this space include Glossgenius, Shedul, Avec, FlexyBeauty, and others.
In India, Zenoti cunts chains such as the BodyCraft, Kaya Skin Clinic, Lakme. And Bouncer as clients while in the US its customers include the Mario Tricoci, Sono Bello, Rudy Barbershop, Prose Boutiques, Waxing the City.
It recently signed the Facial Spa and Hand & Stone Massage as clients. powering around 400 stores across the UK and US.
The company was founded by the Koneru in 2010 and also offers services businesses across 40 countries.
It employs around 400 people with product and engineering in India and a sales team across the globe. But which includes the 60 people in the US.
Zenoti going great, keep it up