Washington– Zenoti, the leading enterprise cloud platform for the beauty and wellness industry, raises $50 million Series C funding led by Tiger Global Management with participation from Norwest Venture Partners and Accel.
Zenoti has thousands of customers spanning 44 countries.
Using this investment, Zenoti to accelerate the pace of innovation to reshape the industry, to expand into both existing and new geographies and to continue hiring top talent.
With today’s funding, Zenoti has raised a total of $71 million.
“The beauty and wellness markets are large and growing. Zenoti is improving productivity for many salon and spa operators, and we are excited to partner with Sudheer and his team as they continue innovating,” said Scott Shleifer, Partner at Tiger Global.
Reshaping the Beauty And Wellness Industry
Engaging and retaining customers: Zenoti’s technology leverages A.I., predictive analytics and mobile solutions to better attract, engage and retain customers. The customer benefits range from the elimination of long front desk lines, to omni-channel booking and contactless payments for seamless check-outs, to the first AI-driven marketing automation designed exclusively for salons and spas yielding highly personalized, relevant and timely emails for guests. Zenoti’s Smart Marketing has already proven to increase salon and spa revenues by five to ten percent week over week.
Improved operational efficiency: Zenoti supports every aspect of the complex operational tasks needed to efficiently run salons and spas. The current solution includes a rich suite of capabilities that support front desk operations with mobile payments, A.I. driven booking capabilities and communication tools while back office operations are supported with reporting and analytics, inventory management, marketing, and employee management capabilities. Zenoti’s all-in-one platform connects workflows, enabling seamless operations across the business.
“Tiger Global’s investment in Zenoti is the validation of all the hard work the team has put in so far and the zeal to make Zenoti the backbone of the beauty and wellness industry. We are pleased to be in the company of other category-defining portfolio companies in Tiger Global portfolio and thankful for the ardent support by Norwest and Accel throughout our journey. With tremendous momentum of more than 100% growth in the past year and on target to achieve 130% growth in 2019, we’re excited to be leading the transition of this industry to the cloud,” said Sudheer Koneru, CEO at Zenoti.
“We’re energized that this funding will allow us to keep technology innovation at the forefront for our industry.”
The company is proud to serve the unmet needs of the industry and support successful brands including Waxing the City, Massage Heights, Mario Tricoci, Prose Boutiques, Sono Bello and Rudy’s Barbershop, and to have recently expanded into the resort space adding MGM Resorts and Taj Hotels to its customer mix.