ManageMySpa Secures Rs.38 crores From Accel Partners in Series A Funding

Hyderabad-based ManageMySpa, a provider of mobile and cloud-based business management software for the beauty and wellness industry announced that it had raised $6 million (roughly Rs. 38 crores) in a Series A financing round led by Accel Partners. 

Founded in 2010 by Sudheer Koneru and Dheeraj Koneru, the company has offices in seven countries and is head quartered in Seattle, with a customer base in 30 countries. ManageMySpa has seen a double-fold growth year-on-year since inception, and intends to use the funds to accelerate its sales and marketing efforts, and expand its mobile product offering, the company said in a statement. 

ManageMySpa's cross-platform SaaS solution can be used to manage all operational aspects of the spa and salon business, including online booking, appointment management, POS, CRM, staff management, inventory controls, marketing, and analytics. The company offers solutions for both small business owners and large enterprises with multi-location chains with hundreds of outlets. 

"We believe that ManageMySpa is at a pivotal point in its growth trajectory and has all the competencies to become the leader in its space. We're excited about the momentum the company has experienced so far and the growth of the wellness industry globally." said Shekhar Kirani of Accel Partners, who will join the ManageMySpa board of directors.

"We're able to meet the needs for the beauty and wellness industry , which is a need that has not been addressed by any other player in the market. We have a proven product that scales for large businesses and have been able to dominate multiple markets." said Sudheer Koneru, ManageMySpa CEO and Founder. 

According to the company, its clients in India include Kaya Skin, Enrich Salons, O2 Spas, and Blush Clinics. Globally, its large enterprise clients include Massage Green and La Vida in the US; ElemisSpas in the UK; Martha Tillar in Indonesia; Hair Free and Results Laser Clinic in Australia; Tips & Toes, Hello Kitty,and The Grooming Company in the Middle East.