Zenoti Revenue, Valuation, Funding & Investors
Zenoti is valued at $1.5B as of June 2021.
Last Zenoti valuation
$1.5B
Series D · Jun 2021
Last Zenoti funding round
$80M
Series D · Jun 2021
Zenoti revenue
$35M
Series D · Dec 2020
Key investors in Zenoti
Accel
Tiger Global
Norwest
Steadview Capital
TPG
Advent International
About Zenoti
Zenoti is a Bellevue-headquartered SaaS provider for spas, salons, and medspas managing bookings, payments, and inventory. The platform powers 20,000 locations including Planet Fitness and European Wax Center with POS, CRM, and marketing automation. Features enable multi-location chains to track performance via analytics dashboards. Founded in 2010, Zenoti processes billions in annual transactions across North America, Europe, and Asia.
Founded
2010
HQ
Seattle, WAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$35M (Dec 2020)
Valuation
$1.5B (Jun 2021)
Zenoti Valuation
Zenoti is currently valued at $1.5B, based on its Series D in June 2021.
The $80M round was led by TPG.
Zenoti's valuation has grown 1.5x from $1B at its Series D in December 2020 to $1.5B in June 2021, across 2 priced rounds.
Zenoti valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series D | $1.5B | - |
| Dec 2020 | Series D | $1B | 28.6x |
Zenoti Revenue
Zenoti's latest recorded revenue is $35M, as of its Series D in December 2020. At a $1B valuation, that implies a 28.6x revenue multiple.
Zenoti revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2020 | $35M | $1B | 28.6x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Zenoti Funding History
Zenoti has raised a total of $331M across 6 funding rounds.
Zenoti's first fundraising round was a $6M Series A in July 2015. The most recent completed round was a $80M Series D in June 2021.
Zenoti funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series D | TPG (lead) | $80M | $1.5B | Zenoti is a leading enterprise cloud platform providing all-in-one software solutions for the beauty, wellness, and fitness industries, powering over 12,000 businesses in more than 50 countries. The platform handles appointment scheduling, POS, CRM, employee and inventory management, marketing, and touchless mobile solutions for consumer engagement, helping clients streamline operations, reduce costs, and boost retention and spending. Clients include chains like European Wax Center, Hand & Stone, Massage Heights, Toni&Guy, Gene Juarez, and CorePower Yoga. On June 7, 2021, Zenoti raised an additional $80 million as an extension to its Series D funding round, led by TPG, a global alternative asset firm with investments in companies like Airbnb, Uber, and Toast. This followed a $160 million Series D in December 2020 led by Advent International, bringing total funding to $330 million and increasing the company's post-money valuation to almost $1.5 billion. The investment provides liquidity to employees and positions Zenoti for M&A and platform expansion into areas like pet grooming and fitness. Zenoti demonstrated strong momentum with 100% year-over-year growth in 2020 and expected 120% revenue growth in 2021, driven by subscription fees per store and a growing payments arm. TPG highlighted Zenoti's role as the go-to cloud platform for beauty and wellness brands amid rising global demand for self-care. The company, founded by CEO Sudheer Koneru and based in Bellevue, Washington, had recently won GeekWire Awards' Next Tech Titan category. |
| Dec 2020 | Series D | Advent International (lead); Steadview Capital; Tiger Global | $160M | $1B | Zenoti, an enterprise cloud platform for the beauty and wellness industry, provides software for salons, spas, and related businesses, enabling touchless solutions like appointment scheduling, self-check-ins, automatic payments, and more. Founded in 2010 and headquartered in Bellevue, WA with operations in Hyderabad, it powers over 12,000 businesses in more than 50 countries, including major chains like European Wax Center, Hand & Stone, Massage Heights, Rush Hair & Beauty, Sono Bello, Hair Cuttery, Profile by Sanford, and Toni&Guy. The U.S. accounts for 60% of its revenue, followed by the U.K., and it targets higher-end businesses while expanding into grooming, gyms, and fitness centers. On December 15, 2020, Zenoti closed a $160 million Series D funding round led by Advent International (through Advent Tech and Sunley House Capital), with participation from Tiger Global and Steadview Capital, achieving a post-money valuation surpassing $1 billion and entering unicorn status. This brought total funding raised to approximately $250 million. The investment supports scaling operations, research and development in AI innovations for scheduling, inventory, marketing, dynamic pricing, and profitability enhancements, as well as potential M&A for customer growth. Despite the COVID-19 pandemic, Zenoti reported 100% year-over-year growth in 2020, its best year to date, with a large customer backlog and heightened adoption of its touchless technologies amid industry shifts toward safety and digital engagement. The company employs around 550 people, with nearly 400 in India and 100 in the Seattle region, and had navigated minor job cuts earlier that year. Advent highlighted the opportunity for disruption in wellness, drawing from its experience in tech and beauty investments like Olaplex. |
| Aug 2019 | Undisclosed stage | Steadview Capital (lead) | $20M | - | Zenoti is a cloud-based software platform providing comprehensive solutions for the beauty, wellness, spa, salon, and med spa industries, including online appointment bookings, POS, CRM, employee and inventory management, and marketing tools to streamline operations, reduce costs, and boost customer retention. The company, headquartered in Bellevue, Washington, and Hyderabad, India, serves clients globally, including a recent deal with Hand & Stone Massage and Facial Spa across over 400 stores in the US and Canada as of August 2019. On August 22, 2019, Zenoti raised $20 million from Steadview Capital, a London- and Hong Kong-based alternative asset manager focused on long-term investments in sectors like SaaS. This round followed a $50 million Series C in May 2019 led by Tiger Global with Norwest Venture Partners and Accel, bringing total funding to over $91 million at that point. Steadview led this investment, with Zenoti planning to use proceeds for UK market expansion and enhanced global marketing efforts to accelerate platform adoption, innovation, and potential acquisitions. The investment underscores Steadview's focus on high-growth SaaS in service industries, positioning Zenoti to strengthen its leadership amid rapid sector expansion. |
| May 2019 | Series C | Tiger Global (lead); Norwest; Accel | $50M | - | Zenoti, a Bellevue, WA- and Hyderabad-based enterprise cloud platform for the beauty and wellness industry, provides comprehensive software solutions including appointment bookings, POS, CRM, employee management, inventory, marketing automation, and analytics for salons, spas, and chains. Founded in 2010 by Sudheer Koneru and his brother Dheeraj, the company serves thousands of customers across 44 countries as of May 2019. Prior to the Series C, Zenoti raised $6 million in Series A in 2015 from Accel and others, and $15 million in 2016 led by Norwest with Accel, bringing prior total to $21 million. In May 2019, Zenoti closed a $50 million Series C funding round led by Tiger Global Management, with participation from existing investors Norwest Venture Partners and Accel, increasing total funding raised to $71 million. Avendus Capital acted as the exclusive financial advisor. The capital is earmarked for accelerating product innovation, expanding into new geographies, hiring top talent, and ramping up sales and marketing. At the time, Zenoti had around 320 employees across Seattle and India, with plans to hire at least 100 more by year-end 2019, and served over 5,000 salon and spa customers including Rudy’s Barbershop and MGM Resorts. The company reported more than 100% growth in the past year and was on track for 130% growth in 2019, highlighting strong momentum in transitioning the beauty and wellness industry to cloud-based operations. Subsequent funding included $20 million from Steadview in August 2019 and a $160 million Series D in late 2020 led by Advent International, achieving unicorn status with valuation over $1 billion. |
| Aug 2016 | Series B | Norwest (lead); Accel | $15M | - | Zenoti is a cloud-based management platform providing an all-in-one solution for spas, salons, medi-spas, and wellness businesses, handling operational tasks including online bookings, billing, POS, CRM, inventory management, marketing automation, analytics, and employee management. The platform supports businesses from single locations to large enterprise chains with thousands of outlets across over 30 countries. Founded in 2010 and headquartered in Seattle with offices in Sydney, Jakarta, Kuala Lumpur, Manila, Hyderabad, and Dubai, Zenoti serves over 5,000 clients including Kaya Skin Care, Naturals, Lakme, Elemis, Four Fountains Labs, Taj Hotels, Crown Hotels, and L’Occitane. On August 11, 2016, Zenoti raised $15 million in a Series B funding round led by Norwest Venture Partners with participation from existing investor Accel Partners. This followed a $6 million Series A round from Accel. Norwest Executive Director Mohan Kumar highlighted Zenoti's role in addressing growth challenges for mid-to-large wellness chains through efficiencies, brand protection, and integrated performance views. CEO Sudheer Koneru noted the focus on technology and customer service foundations to transition enterprise brands. The funds will expand market share, drive product innovation, support talent acquisition, and accelerate growth into fitness and yoga segments. Zenoti charges per transaction without fees for failed payments or refunds, targeting the consolidating spa and wellness industry. |
| Jul 2015 | Series A | Accel (lead) | $6M | - | Zenoti raised $6 million in Series A funding from Accel Partners in 2015. The company is a cloud-based business management platform designed for spas, salons, and wellness businesses, offering features including online booking management, billing, payments processing, analytics reporting, marketing tools, inventory management, and employee scheduling. The software was built to serve both small businesses and large enterprise chains across multiple locations. At the time of the Series A, Zenoti was preparing for expansion into adjacent markets including fitness and yoga studios beyond its core spa and salon focus. |
Who has invested in Zenoti?
6 investors have backed Zenoti across its funding rounds, including Accel, Tiger Global, Norwest, Steadview Capital, TPG and Advent International.
Lead investors include TPG, Advent International, Steadview Capital, Tiger Global, Norwest and 1 other investor.
Zenoti Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Palo Alto, CA | 3 | Lead | Jul 2015 | |
| San Francisco, CA | 2 | Lead | Aug 2016 | |
 London | 2 | Lead | Aug 2019 | |
| New York City, NY | 2 | Lead | May 2019 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Zenoti
Zenoti has acquired 1 company to date.
Last acquisition by Zenoti was on September 14th 2021. Zenoti acquired SuperSalon for undisclosed valuation.
Latest Acquisitions by Zenoti
| Description | SuperSalon is an enterprise salon management software providing real-time visibility across multi-location chains for scheduling, inventory, client data, and financials. Deployed by over 10,000 salons in North America, it integrates POS and marketing tools. Established in 1990 and Utah-based, SuperSalon serves high-volume spas with cloud deployment. |
| HQ Country | |
| HQ City | Minneapolis, MN |
| Deal Date | 14 Sep 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Zenoti acquisitions and their M&A valuation multiples. Start Free Trial | |
Zenoti Competitors
Zenoti competitors include listed companies like Intapp and Topicus, and private ones like fabric, eSign, Maya and ZenBusiness.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Seattle, WA | Private | - | - | $1.5B | - | |
 Hangzhou | Private | - | - | $1.5B | - | |
 Manila | Private | - | - | $1.4B | - | |
| Austin, TX | Private | $80M | - | $1.7B | 21.3x | |
| United States | Publicly listed | $578M | ($16M) | $2.8B | 4.5x | |
 Netherlands | Publicly listed | $1.8B | $393M | $5.4B | 3.0x |
Zenoti Public Comps
Zenoti is still privately-owned, but its public comps include RWS Holdings, CS Disco, Intapp, Hibino, Xp Industrial FII, GetBusy, Valtes Holdings, Dye & Durham, Intellinetics and Topicus.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $578M | ($16M) | 4.6x | 4.5x | (164.3x) | 20.9x | |||
| $435M | $60M | 0.6x | 0.6x | 4.3x | - | |||
| $9M | - | 10.0x | - | - | - | |||
| $30M | $2M | 2.1x | 2.0x | 35.2x | 32.5x | |||
| $77M | $6M | 0.6x | 0.6x | 7.4x | - | |||
| $316M | $116M | 3.0x | 3.3x | 8.2x | 7.1x | |||
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Common questions about Zenoti
| When was Zenoti founded? | Zenoti was founded in 2010. |
| Where is Zenoti headquartered? | Zenoti is headquartered in Seattle, WA, United States. |
| Is Zenoti publicly listed? | No, Zenoti is a private, VC-backed company. |
| What is Zenoti's valuation? | Zenoti was last valued at $1.5B in its Series D in June 2021. |
| How much funding has Zenoti raised? | Zenoti has raised $331M across 6 funding rounds. |
| What was Zenoti's last funding round? | Zenoti's last funding round was a $80M Series D in June 2021, led by TPG. |
| Who are Zenoti's investors? | Zenoti's investors include Accel, Norwest, Steadview Capital, Tiger Global, Advent International and TPG. |
| What is Zenoti's revenue? | Zenoti's latest recorded revenue is $35M (December 2020). |
| What is Zenoti's revenue multiple? | Zenoti's latest valuation implies a 28.6x revenue multiple ($1B valuation on $35M of revenue). |
| Which companies are comparable to Zenoti? | Companies comparable to Zenoti include fabric, eSign, Maya, ZenBusiness, Intapp and Topicus. |
| How many companies has Zenoti acquired? | Zenoti has acquired 1 company, including SuperSalon. |
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