Zenoti, the beauty and wellness start-up, has secured an $80 million investment from TPG Capital less than six months after its Series D when it reached unicorn status.
WHO: Zenoti was founded in 2010 by Sudheer Koneru, Anand Arvind, Dheeraj Koneru (Sudheer’s brother), and Saritha Katikaneni with the vision of building a holistic management solution tailored to the needs of companies in health and wellness verticals. Today it powers more than 12,000 businesses in over 50 countries. Zenoti’s touchless and mobile solutions serve all aspects of consumer engagement. The all-in-one, cloud-based software solution is engineered for reliability and scale, harnessing the power of enterprise-level technology for businesses of all sizes. Zenoti helps clients streamline their systems and reduce costs, while simultaneously improving customer retention and spending.
TPG is a leading global alternative asset firm founded in 1992 with more than $91 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG's investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, secondaries, and public equity.
WHY: The additional capital will enable the company to continue to expand its platform through forthcoming M&A, while also providing some liquidity to its employees for their commitment and hard work to the organization over the last decade.
IN THEIR OWN WORDS: “We are privileged to have the trust, confidence and support of TPG as we continue our growth journey,” said Sudheer Koneru, CEO and founder at Zenoti. “Zenoti remains committed to helping beauty, wellness, and fitness businesses reach their full potential and set the standard for the customer experience.”
“Zenoti has created the go-to cloud-based platform for leading beauty and wellness brands looking to grow their businesses and create better experiences for their customers,” said Arun Agarwal, Managing Director at TPG. “As consumers across the globe continue to prioritize self-care, we believe the company is well-positioned for strong growth.”
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