IPV backs salon-focused SaaS startup Glamplus with Rs 2-crore funding

Other investors in pre-series A round are Bounce co-Founder Anil G, Sadhan Enterprise MD-CEO Sachin Khandelwal, Transin CEO Sravan Kumar, Byju's AVP Abhishek Daiya and Shadowfax VP Anudeep Nagalia

Salon-focused SaaS platform Glamplus has raised Rs 2 crore in a pre-series A round led by Inflection Point Ventures, one of India’s largest angel investment platforms in India. Other investors who participated in this round are Bounce co-Founder and COO Anil G, Sadhan Enterprise MD & CEO Sachin Khandelwal, Transin CEO Sravan Kumar, Byju’s AVP Abhishek Daiya and Shadowfax VP Anudeep Nagalia.

The fund will be used for enhancement of product and technology capabilities, and business expansion by the startup.

Founded last year, Glamplus offers an experience-based CRM solution for repeat engagement to salons, gyms and spas to manage their customers’ appointments, 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.

“Salons, spa and gyms form one of the largest portion of our discretionary spends. However, on the other side, salons run in a highly informal manner which gives them little insights about their customers, their spending patterns and visits frequency. 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,” said Mitesh Shah, Co-Founder, Inflection Point Venture.

The salon industry comprises a $200bn market with 15 per cent y-o-y growth and there is a potential to completely digitize this offline economy.

Glamplus aims to digitise the informal economy of salons, gyms and spas through an asset light model and vertical integration like beauty products, hiring and easy loans. This is done to create one collective ecosystem to improve customer experience. With the help of the portal, partners can discover information of customers for upsell and better retention.  

“In the last three months, we have seen traction of more than 500 partners joining Glamplus platform and higher platform adoption gives a belief to go deeper in tier 1 and tier 2 cities,” said Divyanshu Singh, Co-Founder, Glamplus.