[Funding alert] SaaS startup Glamplus raises Rs 2Cr in pre-Series-A led by Inflection Point Ventures
Salon-focused SaaS platform Glamplus on Monday said it has raised Rs 2 crore in a pre-Series A round led by Inflection Point Ventures.
Other investors, including Anil G (Co-Founder and COO,), Sachin Khandelwal (MD and CEO, Sadhan Enterprise), Sravan Kumar (CEO, Transin), Abhishek Daiya (AVP, ), and Anudeep Nagalia (VP, ) have invested in their personal capacity, a press statement read.
Glamplus will use the fresh funds to enhance its product and tech capabilities and expand its business. It will also use it to scale to 3,000 partners in the next six months, along with a vertical expansion of its business line.
With an absence of a SaaS-based system for salons, customer management has been mostly offline. Launched in 2020, Glamplus offers an experience-based CRM solution for repeat engagement.
With this platform, salons (and other partners like gyms and spas) can manage their customers’ appointment, staff management, and suppliers through a simple dashboard.
The platform also helps them with analytical reports to understand the needs of the customers, their visits patterns, and other insights, which can help businesses to elevate the customer experience.
Speaking about the new development, Divyanshu Singh, Co-founder, Glamplus, said,
“When we reached out to IPV, with such rich experience in beauty and wellness segment, they were convinced on the market upside potential and how this segment will evolve further with deep tech SaaS. IPV does not just identify the market sizing with respect to the salon partner ecosystem but also sees an opportunity to uplift the skill sets of the semi-skilled economy."
"In the last three months, we have seen traction of over 500 partners joining Glamplus platform, and higher platform adoption gives a belief to go deeper in Tier I and II cities also,” he added.
Glamplus claims to have scaled to 500 paying partners in less than three months across Bengaluru, Delhi, and Pune. It has a strong core team, developed with a collective startup experience of 15 years across unicorns like, Bounce, , , , and Quotient Technology.
Commenting on the investment, Mitesh Shah, Co-founder, Inflection Point Venture, said, “Salons, spas, and gyms form one of the largest portions of our discretionary spends. However, salons run in a highly informal manner, which gives them little insights about their customers, their spending patterns, and the frequency of their visit. Glamplus has identified this opportunity, and it has the potential to help salons and gyms to move from informal to a formal economy and grow their business in the process.”