Idea Sharing Platform Wazoku Gets Expansion Funds

In London, idea sharing platform Wazoku has received £2.3m in a new funding round, which it will use for corporate and team expansion, and further product development.

Wazoku's cloud-based software Idea Spotlight allows organisations to crowdsource projects aligned to business objectives, by drawing on ideas from employees, suppliers, clients and other partners.

The firm's new investment includes £680,000 in venture debt finance from Barclays, and equity finance from Cambridge Angels and Fig, and brings the total raised to date to £3.6m. As well as supporting its data strategy, the funding will be used for further investment in Wazoku's platform, to enable clients to extend their ideation initiatives from internal employee input to customer and co-creation activities. The company also plans to continue its expansion through core European markets and North America. (pictured) comments: 'We are in the process of expansion, with new additions to our management team, and new expertise in our data science team, and the investment will allow us to deliver sophisticated analytics for employee engagement, reward and recognition and cultural metrics. This funding helps us to commit additional resource to this activity which has recently enabled us to integrate with Facebook, LinkedIn and Twitter for open innovation'.

Web site: www.wazoku.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.