ZenBusiness has announced that it raised close to $200 million in a 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.
Launch and Grow Your Dream Business With ZenBusiness
The move makes ZenBusiness the largest SaaS financing round out of Austin this year. According to the company, the latest round of funding will allow ZenBusiness to invest in the products that help propel customer growth and manage ongoing success. This includes the ZenBusiness app which centralizes all services in one easy-to-use dashboard.
The app is expected to provide users with step-by-step directions to master business ownership, from how to form your LLC and create a website, to customized recommendations on how to take your business to the next level.
ZenBusiness to Add More Features for Customers
The company has also announced that it would accelerate its embedded fintech capabilities through new product features that help customers manage their finances, including creating a customized, guided pathway to get each customer to their first dollar of revenue faster.
Through the revamped offering customers will have an integrated platform to manage all finance-related organization needs. They can also connect their bank account, automatically categorize expenses with AI, and send invoices – all at no cost. Furthermore, users will be able to collect payments via invoices or through e-commerce sites and file their taxes using either software or a CPA.
“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”, said Ross Buhrdorf, Founder and CEO of ZenBusiness.
Small Business Deals
Besides news of the funding, ZenBusiness has announced that Mark Cuban, a billionaire investor will be joining the company as a passionate advocate and spokesperson to accelerate the company’s transformation into a trusted and beloved brand for entrepreneurs. Known worldwide as one of the sharpest minds in business, Cuban will work with ZenBusiness to turn the brand into a household name synonymous with entrepreneurial success.