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.
Zenoti Raises $160 Million in Series D Funding Round Led by Advent International, Surpassing $1B Unicorn Valuation
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Business well-positioned to continue disrupting the beauty and wellness industry with cloud-based software solutions worldwide. Funds to support continued scaling of operations, research and development, including innovations in A.I., as well as M&A.
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“Zenoti remains committed to helping businesses find their greatness and achieve better business performance including higher revenues and increased operating margins, while enabling our industry to set new standards for the consumer experience,” said Sudheer Koneru, CEO at Zenoti. BELLEVUE, Wash. (PRWEB) December 15, 2020