- ZenBusiness, an online platform that is transforming the way small businesses are created and run, announced it raised $15 million in Series A funding
ZenBusiness — an online platform that is transforming the way small businesses are created and run — announced it closed $15 million in Series A venture capital financing. Returning investors Greycroft (lead investor) as well as Lerer Hippeau, and Revolution’s Rise of the Rest Seed Fund joined the round. And the new investors in the round include Rosecliff Venture Partners, Interlock Partners, and Recruit Strategic Partners (RSP). The new capital will be used to
Essentially, ZenBusiness gives entrepreneurs an easy way to start a business as an LLC or Corporation and operate it over time through an array of business services including accounting, taxes, banking, lending and credit, website, domain, and email. Ever since ZenBusiness publicly launched in early 2018, the company has attracted thousands of small businesses to its platform and is on track to reach its goal of helping to launch one million new businesses by 2023.
“The expense, effort and knowledge required to start a business today is prohibitive, and entrepreneurs report feeling overwhelmed and isolated when it comes to making decisions about their business,” said Ross Buhrdorf, the CEO of ZenBusiness. “ZenBusiness helps entrepreneurs realize their dreams by eliminating the many barriers associated with starting a company and running it day-to-day. We are the only online platform that leverages automation, Machine Learning and the collective power of a large community of like-minded business owners to offer unmatched business services. Together we are on a mission to revolutionize how small businesses are created and run.”
This round of funding will further expand ZenBusiness’ footprint and continue to build out platform and community features to serve the growing number of Americans creating and running small businesses today.
“ZenBusiness is democratizing entrepreneurship by making it easy to start and run a small business,” added Greycroft partner and ZenBusiness board member Paul Bricault. “By combining a disruptive platform with a flat subscription-based pricing model, small businesses have unprecedented access to ongoing resources and essential legal protections. It’s no surprise that thousands of small business owners have signed on with ZenBusiness as a trusted partner.”
ZenBusiness’ technology platform utilizes latest in Machine Learning (ML) and automation to replace the cumbersome and expensive processes required for corporate formation as well as ongoing legal compliance, finance, and business operating functions. And the ZenBusiness pulls everything together for the business owner with mobile and web-based products, support and business services such as low cost business formation, a worry-free guarantee, services to expand and grow, and expert support.
“As the ZenBusiness community of small business owners continues to grow, so does their collective power to cut costs and create efficiencies,” explained Eric Hippeau, a Managing Partner at Lerer Hippeau. “Between the company’s proven management team led by Ross, its clear product focus and mission to empower the small business landscape, we’re excited about all that’s to come.”
