ZenBusiness, an Austin, Texas-based company that provides a one-stop-shop for budding entrepreneurs to start, run, and grow their own micro businesses, closed a $55m Series B funding round.
The round was led by global venture fund Cathay Innovation with participation from GreatPoint Ventures, Breyer Capital, and Omega Venture Partners and existing investors Greycroft, Lerer Hippeau Ventures, Interlock Partners, Adam Zeplain’s mark vc, and ATX Venture Partners.
The company intends to use the funds to invest in its customers by offering an expanded suite of services and an innovative all-inclusive digital platform to create, build and run a business.
Founded in 2017 and led by Ross Buhrdorf, CEO, ZenBusiness is a Public Benefit Corporation and digital platform providing technology and educational resources to support millions of micro businesses.
The funding follows the July acquisition of fintech platform Joust, which will launch as ZenBusiness Money later this year. ZenBusiness Money will be a toolkit featuring invoicing and payments solutions, and merchant services. Other offerings of ZenBusiness’ comprehensive solution include services for business formation, compliance, accounting, domain name registration and website development. Since 2018, more than 80,000 micro businesses have launched using the platform.
The company is also announcing ZenBusinessU, which will roll out in 2021. With ZenBusinessU, micro businesses will have access to a tailored curriculum, a community of experts and peers, and interactive seminars addressing specific business needs and key learnings to create a blueprint for growth, including having a website presence, getting the business listed on the local online directories to optimizing search results, discovering customers and understanding their purchase journey. and providing products and services to keep their business growing and running.