[Funding alert] Tiger Global leads $50M Series C funding round in Zenoti, and what this tells us about its strategy
Tiger Global is stepping up the momentum. Its latest investment is in the India- and US-based provider of enterprise management solutions for salons, spas, and resorts , which plans to use the funding to expand its global footprint and invest in AI-driven innovation.
- Zenoti, the Hyderabad- and Bellevue-based enterprise cloud platform provider for the beauty and wellness industry, announced early this morning that it has raised $50 million in a Series C round of funding led by Tiger Global Management.
- Existing investors Accel Partners and Norwest Venture Partners also participated in the round.
- Also read: Lee Fixel, 'unicorn' investor who backed Flipkart, quits Tiger Global after 13 yearsSo what really attracted Tiger?Globally, solutions provider for niche markets - dubbed 'vertical software' - are gaining ground, and Tiger Global is looking at them closely.
- It is this team that works closely with the founders to constantly refine their fully customisable platform based on their learnings from different markets.