Tiger Global Leads $50 Mn Series C Round In SaaS Startup Zenoti
1 May 2019 2:30 PM GMT
Zenoti will also invest heavily in research and development as well as sales and marketing in the US and the UK.
- Zenoti has raised $50 Mn in a Series C funding round led by Tiger Global Management.
- According to the company, India makes only 20% of its market, however, the US makes it up to 50%.
- In a December 2016 report, FICCI estimated the Indian wellness industry would grow at a CAGR of 12% to achieve a $23.4 Bn (INR 1.5 Tn) turnover by 2019-20.
- Another report claimed that the Indian beauty industry was looking towards a market value of $12.4 Bn (INR 80,000 Cr) by 2017-2018 and is expected to grow at the rate of 15% to 20%.
- Inc42 DataLabs suggests that in the period between January 2014 and June 2018, Indian SaaS startups raised $2.79 Bn across 520 deals.