ZenBusiness raises $200 million
ZenBusiness, “the only one-stop guided platform tailored for the entrepreneur’s journey to launch, run, and grow a successful business,” closed of a $200 million Series C funding round, valuing the company at $1.7 billion. The funding round was led by Oak HC/FT, with backing from SoftBank Vision Fund 2, and existing investors Cathay Innovation and Greycroft.
Founded in 2015, ZenBusiness offers a variety of solutions including business formation, websites, invoices and payments, and more. It has helped over 200,000 US entrepreneurs on their journey from “inspiration to business formation and growth.” The company will use the funding to accelerate its embedded fintech capabilities through new product features that help customers manage their finances.
ZenBusiness also has an insurance angle. The company used to feature Bold Penguin on its partner page but that is no longer the case. We reached out to the company to ask if they offer help with getting business insurance and this is the response we received:
“ZenBusiness has revolutionized the process of launching and running a successful business. Like Shopify did for e-commerce, ZenBusiness is creating the category-defining solution for the service sector, providing an easy-to-use platform with embedded fintech solutions so entrepreneurs can turn their ideas into money-making realities. We handle the ‘business stuff’ so our customers can focus on their passion and build the life they want, stress-free and without sacrificing their well-being.” – Ross Buhrdorf, Founder and CEO of ZenBusiness.
“ZenBusiness’s fintech offerings change the game for how entrepreneurs manage and track their finances. By democratizing financial management, ZenBusiness is simplifying merchant services and putting financial power back in the hands of business owners. We’re thrilled to partner with ZenBusiness at a time when entrepreneurs are now more than ever in need of digital tools to help them grow and become successful.” – Matt Streisfeld, partner at Oak HC/FT.
“New business formations have surged during the pandemic and this next generation of entrepreneurs need the right technology tools and resources that help them grow their businesses from an idea to a successful reality. ZenBusiness is building the new ‘operating system’ for growing businesses with support from a team of trusted experts who are changing the face of entrepreneurism in the US. We are excited to be partnering with Ross and the team to create the simplest way to start and run a successful business.” – Kristin Bannon, Investment Director at SoftBank Investment Advisers.