ManageMySpa Raises $6 Million From Accel

ManageMySpa, a Hyderabadi startup, helping business providers in the beauty and wellness space grow their business through a mobile and cloud based technology platform has raised $6 million funding from Accel Partners as Series A investment. The investment will allow the company to accelerate its sales and marketing growth globally and to expand its mobile product offering.

ManageMySpa, headquartered in Seattle, WA,  was founded in India in January 2010 and has been the leading software vendor for spas and salons in India. The company has offices in 7 countries and customers in over 30 countries  with thousands of outlets using the service. Kaya Skin, Enrich Salons, O2 Spas, Blush Clinics and several other large chains are clients of ManageMySpa and they have enabled more than 10 million bookings so far!

ManageMySpa’s SaaS solution is used by spas, salons and medical spas to more easily manage and grow their business. The software is designed to manage all operational aspects of the spa and salon business like online booking, appointment management, POS, CRM, inventory controls, built in marketing, analytics and more. The beauty of the platform is that it supports companies of all sizes from single outlet spas and salons to multi-location chains with more than 300 outlets. It also allows the management to manage employee schedules, keep track of best performers and auto calculate commissions and payrolls.

Vikram Bhatt, Director at Enrich Salons says. “ManageMySpa was pivotal in our ability to rapidly expand from 10 to 55 outlets in less than 2 years. Today, our chain performs more than 70,000 appointments every month. ManageMySpa has been key in our ability to deliver on high quality and consistent service, improve customer loyalty and grow our sales. As we expand, we want to keep our focus on our customers, not on IT infrastructure – ManageMySpa enables that for us.”

Globally, the beauty and wellness industry is growing at a very rapid rate and is estimated to reach $265 billion by 2017. Quickly changing lifestyles and rising consumer incomes are the key factors contributing to the industry’s growth and is creating a demand for modern tools to manage business and meet evolving consumer demands.

“We’re confident in our ability to execute quickly and scale our growth” said Sudheer Koneru, ManageMySpa CEO and Founder. “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.  With Accel’s insights and investment, we’re poised for rapid growth.”

“Accel invests in companies with strong founding teams and a product that serves high-growth markets,” said Accel Partners’ Shekhar Kirani. “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.”

Shekhar Kirani has joined the ManageMySpaBoard of Directors.

About Accel Partners:

Accel is a leading early and growth-stage venture capital firm powering a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a world-class, category-defining business. Founded in 1983, Accel brings more than three decades of experience building and supporting hundreds of companies. Accel has backed a number of iconic global platforms, including Atlassian, Braintree, BookMyShow, Cloudera, Dropbox, Etsy, Facebook, Flipkart, FreshDesk, MuSigma, Myntra, Ola-TaxiForSure, Perfint, Slack, Spotify and others.

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