The tech startup Genius AI has raised $44 million in investment to capitalize on the growing demand in the personal interaction-focused service economy. With this Series D funding round, the company's valuation reached $1.15 billion.
Investment and Partners
Venture firm Lux Capital led the round. Other investors included Bessemer Venture Partners, Imaginary Ventures, L Catterton Growth, 2048 Ventures, and StepStone Private Ventures. These funds will allow Genius AI to shift its focus from beauty booking software to autonomous artificial intelligence tools for a wider range of in-person services.
Company Focus Shift
The company, formerly known as GlossGenius, was founded in 2015 by identical sisters Danielle and Leah Cohen-Shohet. They initially created GlossGenius to help salon owners, aestheticians, and spa operators manage their daily operations. Danielle independently learned programming and wrote the initial code, and over time, the software became a dominant force in the market, helping small businesses process payments, book clients, and promote their services.
Expansion of Genius AI's Mission
The company is now changing its name to Genius AI, signifying a broader mission. As Genius AI, the platform will support all in-person professionals. It is planned for use in medical spas, physical therapy centers, fitness studios, injections, and health clinics.
Autonomous AI for Business
The physical service economy in the United States includes about eight million businesses generating over $2 trillion in annual consumer spending. Although studies show that business owners spend nearly 36% of their working time on administrative tasks, Genius AI aims to completely eliminate this bureaucratic burden. The platform goes beyond simple assistance tools and transforms into an autonomous AI agent capable of handling complex tasks end-to-end, freeing up business owners to interact with clients.
Growth and Healthcare Adoption
The company demonstrates impressive growth and operational scale. Currently, the system is used by over 125,000 businesses across half of the US zip codes. Genius AI reports that its platform is approaching $200 million in annual revenue. To date, the company's tools have helped clients save over 112 million hours of administrative work. To deepen penetration into the healthcare sector, the company has added full HIPAA compliance, allowing physical therapists and clinical specialists to securely store sensitive patient data. This gives Genius AI a significant advantage over traditional tools lacking privacy protection. As artificial intelligence automates office work, human care becomes even more valuable, as skilled professionals like masseuses and trainers provide care that computer code cannot replicate. The new funding is planned to be used to expand software development and increase the engineering team.