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For most people, 40 is an age when they are just starting to establish themselves in their career and financially. However, IIT Madras alumnus Sudheer Koneru decided he was ready to hang his boots. Koneru had already had a nearly two-decade successful career which had included a long stint with Microsoft and founding two companies.
Koneru pursued an engineering degree in computer science from the prestigious Indian Institute of Technology Madras before earning a masters degree from the University of Texas at Austin in the US. He then began his career at Microsoft where he rose to the position of Director before moving out to found Intelliprep Technologies and lead the company as CEO. His firm merged with Click2learn, a company of Gates’ co-founder Paul Allen.
Koneru’s next company, SumTotal grew to generate revenue in the range of $100 million when he decided to opt out in 2007. Having started out around 16 years ago with a job at the IT giant founded by tech legend Bill Gates, Sudheer Koneru decided to retire in 2008. But it wasn’t long before Koneru returned as an entrepreneur. This time with probably his most potent business idea.
During that time he worked on a spa and gym chain in Hyderabad, where he released a void in the industry with immense potential. After a 2-year retirement, Koneru founded a business venture catering to the wellness, salon and spa industry. His product was a software named ManageMySpa. In 2015, Koneru’s company was rebranded as Zenoti.
In 2020, Koneru’s Zenoti entered the unicorn club as its valuation exceeded $1 billion after it raised $160 million in Series D funding. It became the first startup in the beauty and wellness segment to achieve the billion-dollar valuation. His product is used by over 12,000 businesses across 50 countries. Koneru has revealed in the past that plans to take his company to an IPO in the coming years.
As per VentureIntelligence, Koneru is valued at over Rs 12,000 crore ($1.5 billion).
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