Wazoku, a London, UK-based idea management software and services company, raised £1.25M in funding.
The round was led by Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist Calculus Capital, supported by other shareholders and members of the Wazoku management team.
This latest investment round brings the total amount raised to £7.35M.
Led by Simon Hill, CEO, Wazoku provides an idea management software platform which enables organisations to gather, manage, develop, analyse and implement ideas that solve real business problems and identify new opportunities, to achieve both innovation and strategic objectives.
The company is also continuing its expansion with the acquisition of U.S. open innovation firm InnoCentive’s assets, creating an innovation platform and community. InnoCentive operates a global network of almost 500,000 expert problem ‘solvers’ comprising CEOs, PhD students, engineers, scientists, entrepreneurs, retired technologists and business leaders.