SaaS startup GlamPlus raises $700K in a pre-Series A round led by Blume Ventures, IPV
Bengaluru-based software-as-a-service (SaaS) marketplace Glamplus raised $ 700,000 or Rs 5.17 crore in the new financial cycle to grow B2B business partners to 10,000 and reach revenue monthly Rs 5 crore in March 2022.
Blume Ventures, Ramakant Sharma (COO- Livspace), and Inflection Point Ventures (IPV) lead a new pre-series cycle. digitally.
Founded in July 2020 by Vatsalya Agarwal, Divyanshu Singh, and Rohan Singh, The Beginning has created a CRM for a single customer management salon, ERP for staff management, and an integrated B2B market environment that allows SAAS to work seamlessly. any type of promotional offer/contact with D2C audiences.
In a broader sense, the AI-based Glamplus CRM platform empowers salon/spa owners to manage their services and services end up with an online web or android mobile app. This has helped them improve the salon experience for their customers and staff, said the launcher.
In addition to this, The Forum also allows for premium salon holder delivery through B2B2C communication to end customers and includes scheduling appointments, producing digital invoices, providing Bulk SMS / Whatsapp promotional offers, and customer loyalty schemes.
The salon owner can track the effectiveness of stylists, monitor the daily, weekly, and monthly income generation, asset management of products and services provided by the salon, he said.
According to Glamplus, the main money will be spent on direct SaaS tech capabilities and the expansion of its B2B market business. ”The new funding will be used to improve technical skills, deepen market share, and promote growth and efficiency.
Our solution will create a complete ecosystem of digital salons and spas and help transform their lives, “said Divyanshu Singh, Founder, and CEO, Glamplus.
Glamplus says it has reached 4,000 paying partners in less than 8 months in 6 cities – Bengaluru, Delhi, Kolkata, Ahmedabad, Nagpur, and Pune. “The beauty salon / Spa industry is very fragmented despite the fact that there are over one million hairdressers in the country.
We were clearly determined and determined to solve this SMB market that was not right for us and to create a roundabout depth of direct, realization by our tent investors, ”added Divyanshu.
Commenting on the investment, Mitesh Shah, Founder-Co-Founder, Inflection Point Ventures, said: Glamplus has created a B2B2C end-to-end solution for salons, spas, and gyms that will help them run their operations smoothly.
As of January 2021, the company has successfully connected with 4000 partners and plans to grow rapidly next year. The rapid growth trend is a clear indication of the need for this solution in the emerging market and IPV is looking forward to extending its support in its journey. ”
Anirvan Chowdhury, Vice President of Investment – Blume Ventures, added: “We have a strong vision for SAAS direct markets and we believe Glamplus has done a commendable job in resolving many of the conflicts in the workplace in salons/spas through the solution. their SaaS. , enabling them to make money on the market faster. ”
“When we met with the team about a year ago they not only had a vision and last year they not only built a solid product but also in the 6 months since its launch, they have been able to grow amazingly while saving. the most powerful last numbers! 4000+ salons with SaaS revenue of 25 lakhs and 3Cr. GMV monthly market for 6 months with + ve CM1 is not a bad thing, and we are very happy to be a part of this journey, ”added Anirvan.
According to a report by the Indian Beauty & Hygiene Association (IBHA), the beauty and wellness market in India is expected to reach Rs 2,463.49 billion by 2024, expanding the combined annual growth rate (CAGR) by 18.40 percent during 2019-2024.
India caters to more than 1 million registered 30% more and more unregistered people. Glamplus aims to move the $ 200 billion offline SMB-led offline economies into a data-driven workplace followed by a well-organized beauty marketplace in the SaaS area, he added.
Also Read:
Related:- 8 Ways to Know If You Have a Great Business Idea 2022
Related:- How To Start A Business When You Have No Money
Related:- 12 Best Books for Entrepreneurs And Small Business Owners 2020
Follow Startupcolleges on Facebook, Instagram, Twitter, for the latest updates from the startup ecosystem. Subscribe to our YouTube Channel for more entrepreneurship, business, corporate solution video