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

• 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.

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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