The global small business boom brings with it an opportunity to build startups geared specifically toward helping newcomers get off the ground.
That's the opening ZenBusiness sees. The startup, co-founded by former HomeAway leaders Ross Buhrdorf and Shanaz Hemmati, uses machine learning and automation to guide new founders through corporate formation documents, legal compliance questions, financial outlines and other services.
It also offers simple website creation services, generates content answering common business questions and works with third parties to integrate financial management and other back office chores.
In short, it makes it easier to start a business. And venture capitalists see opportunity in that.
ZenBusiness on Wednesday announced it has raised a $15 million Series A led by one of its previous investors, New York firm Greycroft. Other early investors, including Lerer Hippeau and Revolution’s Rise of the Rest Seed Fund, were also in on the deal. Rosecliff Venture Partners, Interlock Partners and Recruit Strategic Partners were newcomers to the cap table.
That brings its total funding to almost $20 million. Its prior $4.5 million found was led by Lerer Hippeau, Greycroft, Slow Ventures, Revolution’s Rise of the Rest Seed Fund, and Founders Fund. Angel investors Brian Sharples, the former CEO of HomeAway, and a few other local and Silicon Valley angels were also in that round.
Editor's Note: A prior version of this story misspelled the name of ZenBusiness co-founder Shanaz Hemmati.
