Zenoti Software, which is a salon and spa software startup, has now secured $20 million from the SteadView Capital, less than three months after closing a $50 million investment led by the 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 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 the Tiger Global Management, along with some of the existing backers Accel Partners and Norwest Venture Partners. The company as of now secured $91 million till 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
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 the 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 offer services businesses across the 40 countries.
It employs around 400 people with the product and engineering in India and a sales team across the globe, which includes the 60 people in the US.