ManageMySpa, a cloud based software solution platform for spas and salons, has secured $6 million in Series A round of funding from Accel Partners. This deal is being touted as amongst the largest deals from Accel as the VC firm typically invests around $1-2 million in Series A rounds.
An investment beyond its usual amount is pretty mush justified from Accel considering the fact that cloud-based startups/solution providers are currently the trend in enterprise tech space.
Founded in 2010 by Sudheer Koneru as Soham Online Solutions, the startup re-branded itself as ManageMySpa later. The startup develops web based software for service industry like salons, spas, medical spas, cosmetology clinics, fitness centers, slimming centers and more.
ManageMySpa’s software helps salons with almost everything for managing their business. It covers billing, appointment book, inventory, employee management, marketing, customer loyalty and even reporting. It developed this cloud based software in order to drive real business results like increased customer loyalty, higher revenue, and more time to focus on your customers.
Using ManageMySpa’s appointment scheduling feature, customers for a salon/spa can easily book services or packages while the business staff can respond to guest questions, find room availability and more. With the accessibility of 24×7, the customers can browse through the service menu and book an appointment. It is fully automated and integrates with appointment book.
The customer also gets to select a therapist (upon availability in a particular spa/salon using the software), check available time slots and then pay upfront. It also maintain control of schedule by allowing customers to request appointments from spa’s own mobile application.
The employee management feature automatically tracks payroll and award commissions based on jobs, sale type and performance. It also automates their attendance. With real-time analytic data, it helps business to identify trends, problems and exceptional performance.
Being a cloud based service, its customer can easily use the software anytime and from anywhere. Also, the spa owners does not need to spend anything on the hardware front or hiring IT professionals.
The Hyderabad-based startup says that its platform is engineered using enterprise-level technology for reliability and scale. It is available to businesses of all sizes – from the single location brand to chains. It is currently present in over 25 countries.
ManageMySpa claims to have more than 2,000 spas and salons in India as its clients with over 5,000 around the world. In India it has clients such as Kaya Skin, Enrich Salons, O2 Spas and Blush Clinics.
Through reports, business owners can easily figure out what strategy is working for them and what not. It also makes accounting and keeping track of the spa easier.
Shekhar Kirani from Accel Partners, said,
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.
In this cloud based software solution for service industry market, ManageMySpace will compete with western, global players such as Mindbodyonline, Spabooker, Envision and Millennium.