Get All Access for $5/mo

Zenoti Enters Unicorn Club; Becomes 5th SaaS- Based Indian Startup To Do So The startup entered the coveted club after it raised $160 million in its Series D round led by Advent International along with existing investors

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Zenoti
Sudheer Koneru

Bellevue (US)- and Hyderabad-based startup Zenoti on Tuesday announced that it has entered the prestigious Unicorn club after raising $160 million in its Series D round funding led by private equity firm Advent International, along with participation from existing investors Tiger Global and Steadview Partners.

Zenoti, which is SaaS-based service provider to the beauty and wellness industry, has now become the fifth software product company of Indian origin to enter into the coveted club with valuation of $1 billion or more after Freshworks, Druva, Zoho, Postman and Icertis.

With this funding, the total amount raised by the startup now stands at $250 million.

Founded in 2010 by Sudheer Koneru, Zenoti provides an all-in-one, cloud-based software solution for the spa, salon and med spa industry. The company boasts of powering over 12,000 businesses across 50 countries. The startup claims with its solution it helps clients streamline their systems and reduce costs, while simultaneously improving customer retention and spending.

According to media reports, the fresh funds will be utilized for scaling the business across European and South American markets while doubling its employee count from 550 to 900 by 2022. It will also invest in R&D to enhance its customer experience with better inventory management, customer scheduling and others.

Commenting on the investment, Eric Wei, managing director at Advent International's technology practice said, "We are seeing businesses embrace Zenoti's technology to help pivot and strengthen their offering and we are impressed by the company's growth over the last year, particularly among some of the most established brands in the industry."

The latest round of investment comes after it raised around $70 million from Tiger Global Management and Steadview Capital.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

News and Trends

Tech Burner's Anarc Smartwatch Achieves INR 3 Cr Sales with USD 1 Mn Investment

Anarc features a patented octagonal design by Thought Over Design and Seymourpowell, with a medical-grade stainless steel body. It includes advanced technology like a Hisilicon chipset, AMOLED display, and seven-day battery life.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Diversity

5 Ways You Can Create a More Inclusive Workplace Immediately -- and Why You Should

The more diversity you bring to your team, the greater your chances of finding groundbreaking insights and solutions.

Marketing

4 Neuromarketing Hacks to Reach More People and Maximize Results

You don't need to be a neuroscientist or have a big budget to start upping your conversions immediately.

News and Trends

Insurtech Player Zopper Raises $25M in Series D Funding

With 40 insurance companies and 2500+ ecosystem players, Zopper will utilize the fresh capital to ramp up digital infrastructure, by strengthening its Insurance Distribution platform

Business News

'Do You Sell Cars?': Tesla CEO Elon Musk Trolls Jaguar Rebrand on X

The team running Jaguar's X account was working hard on social media this week.