BackHome beauty services start-up Stayglad raises Series A funds
The company had earlier raised angel funding from investors including the co-founder of Delhivery, and Tracxn Labs
Premium
Bengaluru: Stayglad (operated by Glow Prime Technologies Pvt. Ltd), a home beauty services platform, on Friday said it raised an undisclosed amount in funding from venture capital firm Bessemer Venture Partners and Anil Chopra, former chief executive officer, Lakme Lever Pvt Ltd.
The company had earlier raised angel funding from investors including Sahil Barua, co-founder of Delhivery, and Tracxn Labs, a research unit of the start-up analytics firm Tracxn Technologies Pvt Ltd.
StayGlad offers on-demand access to trained beauty professionals at homes, and has launched a mobile app for customer convenience.
“In a short period of time, we have been able to build a loyal customer base, which reflects in the 70% repeat orders every month. We have been growing 20% week on week, word of mouth and endorsement by our existing customers continue to be the biggest channel for consumer acquisition," Prateek Jain, CEO, Stayglad, said in a statement.
“Demand for beauty services is at an inflection point in India. Add to this the convenience of the service being delivered at home and it creates a large market opportunity. The category is synonymous with high order values, high gross margins and predictable customer repeat behaviour," said Raghav Bahl, Bessemer Venture Partners.
Other start-ups in a similar space include Ziffi.com, which raised funds from Orios Ventures last year and Vyomo, which raised angel funding from cricketer Yuvraj Singh’s YouWeCan ventures. UrbanClap, which recently raised $25 million from Bessemer Venture Partnerns, SAIF Partners, and Accel Partners, also offers beauty services, among other things.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
