Zenoti raises $80 million, valuation touches $1.5 billion
Zenoti powered more than 12,000 businesses in over 50 countries and is a leading software for salon and spa businesses.
Hyderabad: Hyderabad and Bellevue-based enterprise cloud platform for beauty, wellness and fitness industry, Zenoti announced that it has raised an additional $80 million as an extension to its Series D funding round. The additional investment was led by TPG – a global alternative asset firm that has invested in technology companies such as Airbnb, Kajabi, Toast and Uber. This investment increased Zenoti’s valuation to almost $1.5 billion from the previous valuation of $1 billion.
Zenoti powered more than 12,000 businesses in over 50 countries and is a leading software for salon and spa businesses. It recently expanded into the fitness industry through partnerships with CorePower Yoga and other fitness leaders. The company’s touchless and mobile solutions serve all aspects of consumer engagement, allowing for easy appointment scheduling, self-check-ins, automatic payments and more.
“Zenoti remains committed to helping beauty, wellness and fitness businesses reach their full potential and set the standard for the customer experience. The additional investments come at a time when we have achieved 100 per cent year-on-year growth in 2020. The additional capital will enable us to expand our platform through forthcoming M&A, while also providing some liquidity to our employees.”
“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,” said Arun Agarwal, managing director at TPG.
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