Bangalore: Genoty, which makes software for large spa and salon chains, has developed US-based . has acquired Super Salon To increase your revenue, the founder Sudhir Koneru Told ET. whereas zenotti Works with large salon and spa chains across the US, this acquisition will strengthen its presence among the large standalone salons in the US that are using SuperSalon. Koneru told ET that this is the first of several planned acquisitions and the company has set aside around $120 million for inorganic growth.

“This acquisition is in line with the strategy we put in place to obtain our Series D funding from Advent and TPG. The additional capital will enable us to continue expanding our platform through M&A as we had planned, and Supersalon is the first of many plans,” he said.

after becoming
unicorn late last yearThe Hyderabad and Seattle-based company, led by TPG, raised another $80 million in June, valuing it at $1.5 billion.
informed of by ET. Genoty has raised about $350 million to date, including June funding.

“Even with the increase in scale, Zenoty continues to build momentum and has achieved 100% year-over-year growth,” Koneru said. He declined to comment on the size of the acquisition.

As part of the deal, the CEO of SuperSalon Raj Mahajan Will join Zenoty as its SVP-Corporate Development.

As businesses continue to open up after the Covid-19 induced shutdown, Zenoty is seeing greater demand from its customers for digital solutions. It makes software to offer solutions in areas such as online appointment booking, employee management, inventory management, built-in marketing programs.

“Like Genoty, Supersalon is trusted and proven among large enterprises, and our combined entity will not only expand the reach of our offering but also give us the scale to develop cutting-edge technology that takes our customers to the next level. ” Koneru added.