Zenoti enters unicorn club with $160 million fundraise [Mint, New Delhi]
Dec. 15—Bellevue- and Hyderabad-based software-as-a-service (SaaS) firm Zenoti has raised $160 million as part of its Series D round led by private equity firm Advent International, through Advent Tech and affiliate Sunley House Capital, at a valuation of more than $1 billion.
Existing investors Tiger Global and Steadview Partners also participated in the round.
With this, Zenoti, founded in 2010 by Sudheer Koneru, a person of Indian origin, joins other Indian SaaS unicorns such as Zoho, Freshworks, Druva, and Icertis. The startup, which was formerly known as ManageMySpa, helps close to 1,000 spa and salon brands across 50 countries manage and digitize appointments and point-of-sale operations, and helps with payment reconciliation and inventory management, through its cloud-based software suite.