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SaaS-enabled marketplace startup Glamplus raises $700k in a Pre-Series A round led by Blume Ventures, in participation with Ramakant Sharma (COO- Livspace) and from existing investors IPV.
“The funds raised will be utilized in vertical tech SAAS capabilities along with the expansion of B2B marketplace business to scale to 10,000 partners and monthly revenues of INR 5crore/month by Mar ’22,” the statement said.
Glamplus is a SaaS-enabled curated B2B marketplace that helps and enables large, medium & small salons/spas to adopt technology and grow their businesses digitally.
Glamplus has created a one-stop platform -salon CRM for managing customers, ERP for managing staff as well as enabled B2B marketplace compounded on SAAS platform parallelly allowing to run any type of promotional offers/communication with D2C audience.
Speaking on the funding in Glamplus, Anirvan Chowdhury, Vice President, Investments – Blume Ventures said, “We have a strong thesis on vertical SAAS enabled marketplaces and believe that Glamplus has done a stellar job at solving a lot of friction in the workflow for salons/spas through their SaaS solution, which has enabled them to drive marketplace revenue at a rapid pace.”
Commenting on the fund infusement, Mitesh Shah, Co-Founder, Inflection Point Ventures said, “With the rise in disposable income and more women joining the workforce in tier 1cities, beauty and wellness services have witnessed a upsurge. People are now more conscious about their appearance and are willing to spend. To cater to this rising need more efficiently, Glamplus has created an end-to-end B2B2C solution for salons, spas, and gyms which will help them to run their operations smoothly. Since January 2021, the company has successfully tied up with 4000 partners and plans to grow faster in the coming year. The fast-paced growth trajectory clearly shows the need for this solution in the emerging market and IPV looks forward to extending their support in their journey.”
Speaking on the fundraise, Divyanshu Singh, Co-Founder & CEO, Glamplus said, “Salon/Spa beauty industry is highly fragmented despite the presence of more than million-plus salons in the country. We were determined and destined to solve for this highly underserved SMB market and creating a moat around it by going vertically deep, has also been recognized by our marquee investors.”
“New Funds will be utilized in enhancing tech capabilities, going deep in the marketplace segment, and driving growth along with efficiency. Our solution will create a complete digital ecosystem for salons and spas and help transform their lives,” Singh added.