Zenoti, a Bellevue, WA-based enterprise cloud platform for the beauty and wellness industry, closed a $160m Series D funding round at over a $1 billion valuation.
The round was led by Advent International, through Advent Tech and Sunley House Capital, an affiliate of Advent. Tiger Global and Steadview Partners also participated in the round. To date, Zenoti has raised a total of approximately $250m.
The company intends to use the funds to continue scaling operations, support research and development and to accelerate further A.I. innovations, including advanced algorithms leveraging its enterprise system data to optimize customer employee scheduling, inventory management, marketing and dynamic pricing to enhance profitability and efficiency, and pursue inorganic growth opportunities.
Led by Sudheer Koneru, CEO, Zenoti provides an all-in-one, cloud-based software solution for the beauty and wellness industry serving global brands including European Wax Center, Hand & Stone, Massage Heights, Rush Hair & Beauty, Sono Bello, Hair Cuttery, Profile by Sanford and, most recently, Toni&Guy. Powering more than 12,000 businesses in over 50 countries, the company provides a software platform for salon and spa chains. Its mobile solutions serve all aspects of consumer engagement, allowing for appointment scheduling, self-check-ins, automatic payments and more.