Genius AI, formerly known as GlossGenius, announced a Series D funding round at a $1.15 billion valuation, bringing the company’s total capital raised to more than $125 million. The round was led by Lux Capital, with participation from Bessemer Venture Partners, Imaginary Ventures, 2048 Ventures, L Catterton Growth Fund, and StepStone Private Ventures. Alongside the funding announcement, the company introduced its new name, which it said reflects a customer base and product that have grown beyond its original focus on the beauty and wellness industry.
The company, which launched in 2017 as GlossGenius, built its business helping service professionals such as stylists, physical therapists, and clinical providers manage scheduling, payments, and marketing so they can focus on client-facing work rather than administrative tasks. More than 125,000 businesses across half of all U.S. ZIP codes now run on the platform, including salons, med spas, physical therapy practices, and wellness studios. The company said its products have saved these businesses an estimated 112 million hours of administrative work and helped generate an additional $2 billion in revenue, and that it is approaching $200 million in annual revenue run-rate this quarter.
With the new funding and rebrand, the company said it plans to expand its AI capabilities to automatically run back-office functions such as filling calendars, processing payments, and triaging client communications, targeting what it describes as an approximately $2 trillion U.S. in-person service economy comprising roughly 8 million businesses.
KEY QUOTE:
“We launched GlossGenius in 2017 with a simple idea: use technology to help professionals focus on their service, not their back office. Genius AI exists to bring that future to the physical economy, where some of the most valuable and human work in our daily lives takes place. The genius was never the software. It’s the person holding the expertise. We’re building the technology that handles everything else.”
Danielle Cohen-Shohet and Leah Cohen-Shohet, Co-founders, Genius AI
