Thursday, Sep 28, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Zenoti Revolutionising Spa And Salon Industry

Zenoti revolutionising spa and salon industry

Former Microsoft director Sudheer Koneru developed Zenoti in 2010 which is now valued at $1 billion in a decade

By Sruti Venugopal
Published Date - 12:15 AM, Fri - 8 January 21
Zenoti revolutionising spa and salon industry
Zenoti, which serves about 1,000 brands and powers more than 12,000 businesses, has raised $160 million in its fourth round.
whatsapp facebook twitter telegram

Hyderabad: Change is the only constant in life, said Greek philosopher Heraclitus. True to his words, when one thinks of having achieved goals, life throws newer challenges. And this is what happened with Sudheer Koneru, co-founder of Zenoti.

This ex-Microsoft director started a software company called SumTotal Systems, and after running it for eight years, he thought about hanging up his boots and relax. But life had other plans for him as something that was started as a fun investment went on to become a company with a valuation of $1 billion (normally called a unicorn), about 10 years later.

“After exiting from SumTotal, I was not working for almost two years and used to spend my time travelling and doing wellness things like Yoga. Around that time, I invested in this spa and salon chain called Latitude and Tangerine and was actively involved in its day-to-day operations for almost one to two years. In those two years, I learned a lot about gym, spa and realised that this was not my calling,” says Koneru.

As a software developer himself, Koneru realised that the spa and salon industry lacked good software support to run their large businesses and they were heavily dependent on manual data entries which were not easy. “That is why we ended up selling the Latitude business to Apollo and now it is called Apollo Life Studio. However, this challenge is what gave birth to Zenoti,” says the IIT-Chennai graduate whose company in its fourth round raised $160 million led by private equity firm Advent International, through Advent Tech and affiliate Sunley House Capital, and was valued at more than $1 billion.

Zenoti Joining the list of Indian SaaS unicorns, Zenoti is an all-in-one cloud-based software solution for the spa and salon industry, and it serves about 1,000 brands and powers more than 12,000 businesses. Over 76 million bookings are made through Zenoti platform annually. The software allows the customer to manage different aspects of the business and makes it a seamless process.

Koneru credits the success of Zenoti to two major factors- employee contribution and also the exponential growth of the spa and salon industry in the last ten years. “At the time we started the company, the industry was at a nascent stage and most of the customers like Lakme had only 100 salons. But now, they have 600 salons which directly helped our business grow as well. Currently, 60 per cent of our customer base is in the US and the rest is spread across UK and India,” he says.

The company plans to use the recent funding to support its expansion in the UK and other countries and is also looking at venturing into new industries like gym apart from considering a few acquisitions in the US market. “Our next step is to get into an IPO in the US,” he says.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


 

Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • Heraclitus
  • Hyderabad
  • hyderabad hard news
  • Hyderabad latest news

Related News

  • Opinion: Drive SDGs from grassroots

    Opinion: Drive SDGs from grassroots

  • Indian Navy wins Inter Services Athletics tournament first time in 72 years

    Indian Navy wins Inter Services Athletics tournament first time in 72 years

  • Mynampally Hanumantha Rao, son join Congress

    Mynampally Hanumantha Rao, son join Congress

  • GHMC panel okays 16 projects under CSR

    GHMC panel okays 16 projects under CSR

  • Gouher Sultana to lead Hyderabad women’s senior team in T20 BCCI Tournament

    Gouher Sultana to lead Hyderabad women’s senior team in T20 BCCI Tournament

  • Majority unions not party to decision on SCCL election: SBGKS

    Majority unions not party to decision on SCCL election: SBGKS

Latest News

  • Jaishankar meets US NSA Sullivan, discusses progress in bilateral ties

    2 hours ago
  • AP Deputy CM inaugurates regional prohibition, excise laboratory worth Rs 2.5 cr

    3 hours ago
  • Vasundhara faction leader Devi Singh Bhati joins BJP again

    3 hours ago
  • Editorial: Architect of Green Revolution

    3 hours ago
  • Disha Patani pens adorable birthday note for her best friend Mouni Roy

    3 hours ago
  • Zero tolerance policy against drug smugglers: Punjab AAP reacts to arrest of Congress MLA

    3 hours ago
  • Manipur: CAPF officials hold meeting on law and order situation at police headquarters

    3 hours ago
  • Some kidney patients may benefit most from quick dialysis: Study

    3 hours ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam