ZenBusiness, an Austin, TX – based provider of free business formation services, raised $4.5m in seed funding.
The round was led by Lerer Hippeau with participation from Greycroft, Slow Ventures, Revolution’s Rise of the Rest® Seed Fund and Founders Fund.
The company will use the funding for product development and marketing as it expands into new verticals.
Led by Ross Buhrdorf, the founding CTO of HomeAway (acquired by Expedia for $3.9 billion), ZenBusiness allows anyone to start a business as an LLC or Corporation and to manage it year-round, via a technology platform that uses machine learning and automation to replace people-based processes with software.
With ZenBusiness, small businesses owners can now answer simple questions on any device and the platform then creates and submits all documents to the state – within 48 hours and completely free of charge except for state required fees.
The ZenBusiness platform continuously monitors and protects the status of a business – providing users with alerts and actions to resolve issues and get the right information and support. ZenBusiness will make sure business owners stay in good standing with the Secretary of State, or it will pay to fix it. Additionally, ZenBusiness manages legal entities and provides 2 filings per year less state fees: Name changes, Amendments, Stock changes, Address updates, Change in principals, Annual report, Good Standing report.