ZenBusiness: Helping Small Businesses Thrive
ZenBusiness is making the dream of starting a new business accessible to everyone
Starting a business is a highly rewarding but challenging feat. Managing cash flow, maintaining proper time management, and finding the best support and applicable funds are just a few of the many challenges facing entrepreneurs. However, with the proper help and guidance, new businesses can easily overcome these hurdles.
Alumni Ventures portfolio company ZenBusiness empowers the next generation of entrepreneurs, small business owners, and freelancers by making it easier to start, run, and grow a successful business. The company’s technology and automated processes provide a fast and low-cost business formation service that offers the most customized business formation experience online.
The Best Business Partner
ZenBusiness aims to empower the next generation of small businesses by giving them the tools and support they need to thrive. The company does this through several features:
- Fast Filing: Top-notch technology and automation help users form their business quickly and easily.
- Low Cost: Completed business documents are filed and returned at a low cost with no hidden fees.
- Expert Service: A team of formation experts are available to assist companies with all needs.
- Simple Setup: Easy setup allows users to start, run, and grow their businesses quickly.
ZenBusiness believes in a lifelong partnership with its customers. Based on data from the tech-based platform, ZenBusiness can personally present customers with a specific product or solution, (such as hiring help or suggesting providers for workman’s comp insurance), depending on the state of their business. This business model has already proven successful, with ZenBusiness boasting a greater net promoter score than all adjacent competitors.
Addressing a Large Market
ZenBusiness is addressing small business owners, and with over 627,000 new small businesses opening each year, there is a substantial opportunity for growth in this market — especially since most individuals try to go through the process on their own.
The rich resources behind ZenBusiness’s platform — hundreds of people and thousands of years of engineering time — ensure users have the tools to stay compliant and be successful. The company also has plans to launch several fintech products that will further drive growth.
How We Are Involved
Towerview Ventures (for the Duke community), Waterman Ventures (for the Brown community), Spike Ventures (for the Stanford community), and Triphammer Ventures (for the Cornell community) participated in the company’s $200 million series C. The round was led by Oak HC/FT, with backing from SoftBank Vision Fund 2, and existing investors Lerer Hippeau Ventures, Cathay Innovation, and Greycroft.
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