Fosun Kinzon Capital leads $25m round for US StyleSeat
Fosun Kinzon Capital, the Silicon Valley-based VC arm of Chinese conglomerate Fosun International, has led a $25 million Series B round of funding for StyleSeat, a US-based beauty services booking app.
Other investors including Lightspeed Venture Partners, Cowboy Ventures and Slow Ventures also participated.
Founded in 2011, StyleSeat provides back office services for beauty professionals, handing online payment transactions and managing customer relationships. Customers could book their services through the app. More than 320,000 professionals in 15,000 cities have joined the platform and 20 million appointments have been made since inception.
The company plans to use the new funding to build the team and add more services for beauticians and consumers, Melody McCloskey, co-founder and CEO of StyleSeat, told Fortune.
Fosun Kinzon Capital was launched early last year, receiving $320 million investment from its parent company. Over the past two years, it has backed over 30 start-ups in both China and Silicon Valley.
Last year, it led a $10.3 million funding round for Connect, an US start-up that helps manage social networking and mobile contacts.
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