Zenoti, a Bellevue, Wash-based-enterprise cloud platform for the beauty, wellness, and fitness industries, raised an additional $80m as an extension to its Series D funding round.
The additional investment, which was led by TPG, increases Zenoti’s valuation to almost $1.5 billion.
The company intends to use the funds to continue to expand its platform through forthcoming M&A, while providing some liquidity to its employees.
Led by Sudheer Koneru, CEO and Founder, Zenoti provides a software platform for salon and spa businesses, which serves all aspects of consumer engagement, allowing for appointment scheduling, self-check-ins, automatic payments, and more. The company has recently expanded into the fitness industry through partnerships with CorePower Yoga and other fitness leaders. It currently powers more than 12,000 businesses including global brands such as European Wax Center, Hand & Stone, Massage Heights, Rush Hair & Beauty, Sono Bello, Hair Cuttery, Profile by Sanford and Toni&Guy, in over 50 countries.