This Hyderabadi start up, started in 2010 by Sudheer Koneru and his brother Dheeraj Koneru launched SaaS (Software as a service) Zenoti firm, this start up currently serves 1000 brands and powers more than 12000 business in more than 50 countries, over 76 million bookings are made through Zenoti platform annually..
What does it do..?
Zenoti is a all in one cloud based software solution for the beauty and wellness. It is formally known as Manage My Spa, allows users to manage every aspect of the business in a mobile solution. It claims to help streamline their systems and reduce costs.
Then, what is this Unicorn bro..?
Unicorn is a term in business to describe a privately held startup company valued at over 1 billion. Edhaina start up company value increase ayi 1 billion cross avthe vaatini Unicorn companies ani gurthistharu anamata..
Zenoti entered in Unicorn club..
Now this Hyderabadi start up entered the prestigious Unicorn club after rasising $160 million in its series D rounding led by private equity firm Advent International, along with participation from existing investors Tiger Global and Steadview Partners.
5th Indian company
Zenoti now become the fifth software product company of Indian origin to enter into the coveted club with valuation of 1 billion or more after Freshworks, Druva, Zoho, Postman and Icertis.
With this funding, the total amount raised by the startup now stands at 250 million.
With 100 percent year on year growth in 2020, the company touchless and mobile solutions serve all aspects of consumer engagement, allowing for easy appointment scheduling, self check ins, automatic payments and more..
Founder and CEO Sudheer believes that the global crisis has further increased the need for tech integration in spas and salons in order to reopen safely..
“It is not just better hygiene but IT infrastructure which is touchless and meets the heightened consumer expectations for health and safety in the stores during the global pandemic”
Looking to the future
Zenoti is looking to double its employee base by 50 % from 550 to 900 by 2022, by hiring across the board, and with a deeper emphasis on core engineering or product roles. This plan is in line with the company’s efforts to double its revenue in 2021. Besides this, it will also expand its latest offerings in physical therapy, fitness, and pet grooming or spas.
The post This Hyderabad Based Startup Enters Unicorn Club, Becomes 5th SaaS Based Indian Startup To Do So appeared first on Chai Bisket.