StyleSeat makes a mobile app for enabling consumers to more easily discover, book and pay for beauty services, much like competitors MyTime Inc., BeautyBooked Inc. and StyleSquad Inc.

Unlike MindBody Inc., which reported $70 million in 2014 revenue and raised $100 million in its June IPO, StyleSeat does not work with large chains or include exercise classes. It provides a free product to independent hair stylists, makeup artists, manicurists and the like who typically run their business from their smartphones, with the option to pay extra for help with taxes, customizing text messages and other premium features.

The app has gained popularity in recent years, with little marketing by the 42-person startup. Bookings through the platform totaled $180 million in 2013 and $443 million in 2014. The company, which declined to disclose revenue, said it expects more than $1.1 billion in 2015 bookings.

For Fosun Kinzon Capital, the $350 million venture arm which Fosun International launched in 2013, StyleSeat represents what Fosun Managing Partner Brad Bao said was a “typical investment” the firm was seeking to make. Fosun has also invested in social platform Connect Inc. and mobile food ordering startup Tapingo Inc.

“There should be enough frequency and loyalty here (in StyleSeat) to create a marketplace,” Mr. Bao said. “Uber and Airbnb have created similar values in their verticals.”

StyleSeat will use the Series B infusion to launch its first major big data experiment, change its business model and expand to Asia and South America with the help of Fosun.

The San Francisco-based startup plans to tap its data trove of past actions by customers to anticipate future demand. Based on the projected demand, StyleSeat will purchase haircuts and other services from salons and then offer those available slots to consumers.

StyleSeat Chief Executive and Co-founder Melody McCloskey said that while there is always a risk those appointments won’t be booked by consumers and StyleSeat will get stuck with the bill, she believes her team has gathered enough information to accurately predict demand by geography, style, service and timing nationwide.

The idea, according to Ms. McCloskey, is to build the supply side of the marketplace and become the go-to app for consumers seeking services.

“We have a good amount of penetration and distribution,” she said, noting StyleSeat now counts 320,000 professionals offering services in 15,000 cities nationwide. “Now we’re ready to focus on the next level.”

That next level includes shifting its business model to generate revenue by driving referrals to service providers, rather than simply charging for premium services. Global expansion is planned for 2016.

Although the marketplace is crowded with some larger players like London-based Wahanda Ltd. getting acquired by larger player Recruit Holdings Co. Ltd a few months ago, Mr. Bao said that dynamic doesn’t worry him. He said in studying the sector, his team concluded there was a major opportunity to capture more value by unseating the status quo in traditional beauty services. Owning majority and minority shares in brands including St. John, Caruso, Cirque du Soleil and Club Med, Mr. Bao said he could envision making introductions if and when StyleSeat was ready to discuss partnerships and global expansion.

“We are patient, value-based investors,” he said. “We have many funds to support them with if they are performing well. We don’t flip companies.”