B2B management software start-up Wazoku closes £750,000 growth capital from existing investors
“Co-creation and open innovation” company announces recruitment of former Huddle VP as COO
London-based idea generation and management platform Wazoku has secured £750,000 in a round led by existing investors Cambridge Angels and New Model Venture Capital, bringing its total funding to date to £1.25m.
Founded in 2011, Wazoku supplies idea management software to some of the UK’s biggest organisations including the BBC, NHS and the Ministry of Justice, with its flagship product ‘Idea Spotlight’ used to crowdsource ideas from internal and external business communities.
The management company claims that its software helps businesses “better engage with employees, develop new products and improve processes”.
It intends to use the finance to “accelerate product growth and drive further growth into new markets”.
The news also ties-in with the announcement of latest hire, former Huddle vice president, Jon Landau as its chief operating officer (COO) to “continue impressive growth”.
Wazoku CEO and founder, Simon Hill, said:
“It is a really exciting time for us as a business as we are seeing global demand for our software and have a highly experienced team to ensure we meet this demand.
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“We are seeing that as the broader economic outlook improves, innovation is moving back into focus and it is a great time to be in a sector as it matures into more mainstream, strategic adoption.”
New COO, Landau, added:
“I left Huddle to join a company that I believe is set to become the next big British tech success story.”