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.