Total amount raised
$277 Millions
Latest funding date
Location
ZenBusiness has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of services designed to help small business owners launch, run, and grow their enterprises.
Keep reading to delve into the details of ZenBusiness's funding journey and the investors who are backing this innovative platform.
What Is ZenBusiness?
ZenBusiness, founded on March 23, 2017, is headquartered in Austin, Texas. The company was established by Art Flores, JC Glancy, Rafael Lopez, Ross Buhrdorf, Ryan Pitylak, and Shanaz Hemmati.
ZenBusiness offers an all-in-one platform designed to simplify small business operations. Their services include business formation, compliance, banking, bookkeeping, and marketing tools, all accessible through an intuitive, personalized dashboard.
With a team of 501-1000 employees, ZenBusiness combines innovative technology with live human support to help small business owners launch, run, and grow their enterprises.
How Much Funding Has ZenBusiness Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: February 2018
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and services for small business owners.
- Series A
- Amount Raised: $15M
- Date: September 2019
- Lead Investors: Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series B
- Amount Raised: $55M
- Date: November 2020
- Lead Investors: Cathay Innovation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support a growing customer base.
- Series C
- Amount Raised: $200M
- Date: November 2021
- Lead Investors: Oak HC/FT
- Valuation at Round: $1.7 billion
- Motivation Behind the Round: To invest in product development and enhance fintech capabilities.
- Venture Round
- Amount Raised: $2.5M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development initiatives.
Total Amount Raised: $277M. Current Valuation: $1.7 billion.
Key Investors
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm that invests in healthcare and fintech sectors. Founded in 2014, the firm manages $3.3 billion in assets.
- Investment Focus Areas: Healthcare, fintech, technology.
- Notable Investments: Not publicly disclosed.
- SoftBank Vision Fund 2
- Details: Managed by SoftBank Investment Advisers, this fund focuses on technology-driven companies. It aims to support transformative technologies across various sectors.
- Investment Focus Areas: Technology, AI, robotics.
- Notable Investments: Uber, WeWork, DoorDash.
- Cathay Innovation
- Details: Cathay Innovation is a global venture capital firm that partners with startups to drive innovation. It operates across North America, Europe, Asia, and Africa.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: Not publicly disclosed.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in early and growth-stage companies. It focuses on internet and mobile companies.
- Investment Focus Areas: Internet, mobile, media.
- Notable Investments: Venmo, Huffington Post, Bird.
- Lerer Hippeau
- Details: Lerer Hippeau is a New York-based venture capital firm that invests in early-stage companies. It has a strong focus on media and technology sectors.
- Investment Focus Areas: Media, technology, consumer.
- Notable Investments: BuzzFeed, Warby Parker, Glossier.
What's Next for ZenBusiness?
ZenBusiness stands at the cusp of significant growth opportunities, driven by the expansion of its product offerings and enhanced fintech capabilities. With the backing of high-profile investors and the influence of Mark Cuban, the company is poised to become a household name for entrepreneurs. The platform's growth, marked by a 400% increase since March 2020, underscores the vast potential in supporting over 200,000 U.S. entrepreneurs.
Future fundraising rounds seem likely as ZenBusiness continues to innovate and scale its operations. The company's ability to attract substantial investment, such as the recent $200 million Series C round, indicates strong market confidence. However, challenges such as competition, regulatory compliance, and maintaining service quality amid rapid growth could pose hurdles. Navigating these challenges will be crucial for ZenBusiness as it aims to solidify its position in the entrepreneurial support space.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like ZenBusiness and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
