US-based beauty appointment booking platform StyleSeat has secured $25m in a series B round led by Kinzon Capital, a subsidiary of conglomerate Fosun International, Fortune reported yesterday.
Venture capital firms Lightspeed Venture Partners, Cowboy Ventures and Slow Ventures also participated in the round.
Founded in 2011, StyleSeat operates an online marketplace through which consumers can book appointments with independent beauty professionals. The company also offers a platform to those professionals to manage their businesses, handling administrative tasks such as taxes and payments.
The series B funding will be used to hire more staff and to develop additional features for both professionals and clients.
StyleSeat closed a $10.2m series A round in January 2014 led by Lightspeed that included Cowboy Ventures, Lowercase Capital and SoftTech VC.
The company also raised $4m in a 2013 seed round backed by Chris Sacca, a partner at Lowercase Capital, Cowboy Ventures and unisclosed additional investors. It closed a $1.5m angel round in 2011 featuring Sacca, A-Grade, Founders Fund, 500 Startups and nine other individual investors.
Fosun set up Kinzon Capital with $100m in April 2014. The conglomerate is the firm’s sole limited partner.