The American investment company, Tiger Global Management has led a funding round for software provider, Zenoti of INR 350 Crore. The Hyderabad-based company, Zenoti renders software to spa as well as salons.
Avendus Capital, the financial adviser to Zenoti in the Series C round of funding, said that the present investors, Accel and Norwest Venture Partners have participated in the funding round, as reported by the Indian daily news, VC Circle.
Zenoti will be using the capital to widen present and new regions said the companys statement.
With the momentum of more than 100 per cent growth in the past year and being on target to achieve 130 per cent growth in 2019, were excited to be leading the transition of this industry to the cloud," Chief Executive of Zenoti, Sudheer Koneru told the Indian daily news, VC Circle.
The Hyderabad-based software provider was founded by Sudheer Koneru and his brother, Dheeraj Koneru in 2010. Zenoti raised $6 million in Series A funding round from Venture Capital company, Accel in 2015 and in the following year, it gained $15 million from Accel and Norwest Venture Partners in Series B funding round.