Another unicorn – Indian SaaS startup Zenoti enters the coveted club with a $160 million funding

Another unicorn – Indian SaaS startup Zenoti enters the coveted club with a $160 million funding
Zenoti/Facebook
  • Zenoti, a Software-as-a-Service startup catering to the beauty and wellness industry, has raised $160 million in a series D round of funding.
  • The round was led by Advent International, while it also saw participation from existing investors Tiger Global and Steadview Partners.
  • With this, Zenoti becomes the fifth SaaS-based Indian startup to become a unicorn.
Zenoti, a Software-as-a-Service startup catering to the beauty and wellness industry, has raised $160 million in a series D round of funding with a valuation of over a billion dollars. The round was led by Advent International, while it also saw participation from existing investors Tiger Global and Steadview Partners.

With this, Zenoti becomes the fifth SaaS-based Indian startup to become a unicorn, the previous ones being Zoho, Freshworks, Druva and Icertis. All of these startups have found a major customer base in the United States.

Zenoti, which is based out of Hyderabad and Bellavue, Washington, offers cloud-based software solutions for the spa, salon and medspa industry and counts over 12,000 outlets across 50 countries as its clients.

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With the latest investment, the startup now aims to fuel Artificial Intelligence-led innovations while also scaling up operations. The company also aims to hire new employees to double its headcount to 900 from the current 550 by 2022.

The 10-year old startup had also ranked 316 in the Deloitte’s Technology Fast 500™, which is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America.

The company’s founder Sudheer Koneru had also said that the company’s revenue had registered a 320% revenue growth in the last year.

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