Zenoti, an enterprise cloud platform for the beauty, wellness, and fitness industries, has announced that it has raised an additional $80 million as an extension to its series D funding round.
The additional investment was led by TPG, a global alternative asset firm that has invested in technology companies such as Airbnb, Kajabi, Toast, and Uber. The investment increases Zenoti’s valuation to almost $1.5 billion.
The company has recently expanded into the fitness industry through partnerships with CorePower Yoga and other fitness providers.
The additional capital will be used to expand its platform through forthcoming M&A, while also providing some liquidity to its employees for their commitment to the organization over the last decade.
“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.”
