02 May 2019, India:
Enterprise cloud platform Zenoti has raised $50 million in Series C round of funding. The funding round was led by led by Tiger Global Management.
Norwest Venture Partners and Accel also participated in the funding round.
With this funding, the startup has raised a total of $71 million.
This investment positions 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, the company said in a statement.
Scott Shleifer, Partner at Tiger Global, said, “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.”
Sudheer Koneru, CEO at Zenoti, said, “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.”
Sudheer Koneru, added, “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. We’re energized that this funding will allow us to keep technology innovation at the forefront for our industry.”
(Image – Zenoti)