Wazoku Secures $2M in Growth Financing from SaaS Capital

By Wazoku

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CINCINNATI, SEATTLE, LONDON, March 16, 2022 – SaaS Capital, the leading provider of growth debt to software-as-a-service (SaaS) companies, today announced that it has provided a $2.0 million line of credit to Wazoku.

“As we continue to invest in building our market-leading products and global team to drive innovation at scale outcomes for global brands, we are delighted to be working with the leading provider of growth debt,” said Simon Hill, CEO and Founder of Wazoku. “We have been fans of SaaS Capital from afar for years, it’s great to now be working alongside the team at this exciting time of growth for Wazoku.”

The Wazoku platform is the Innovation Operating system for large, multi-national organizations, providing the structure to capture, evaluate, develop, and select ideas, enabling organizations to achieve their innovation and engagement goals by engaging their workforce, partners, and customers. Having acquired InnoCentive in 2020 and Change in 2021, Wazoku is on a mission to change the world, one idea at a time.

“Simon Hill started with a vision, built a fantastic team, and Wazoku has become the market leader in the idea management space,” said Steve Jaffee, Managing Director of SaaS Capital. “We are honored that Wazoku chose SaaS Capital as its financial partner, and we look forward to working with the team on their continued success.”

About Wazoku

Wazoku’s Enterprise Innovation Platform includes idea management, open innovation, and a range of innovation consulting services. The platform is powered by Wazoku’s proprietary challenge-driven innovation methodology for innovation at scale. The company helps global organizations including AstraZeneca, HSBC, NASA, and Waitrose to connect and interact with employees, clients, and the rest of the world to generate fresh ideas as part of a larger innovation strategy. Visit www.wazoku.com to learn more.

About SaaS Capital

SaaS Capital is the leading provider of growth debt designed explicitly for B2B SaaS companies. SaaS Capital’s growth debt is structured to provide a significant source of committed funding, deployment flexibility, and lower overall cost of capital, all while avoiding the loss of control associated with selling equity. SaaS Capital was the first to offer lending alternatives to SaaS businesses based on their future recurring revenue. Since 2007, SaaS Capital has deployed $234 million in growth debt to deliver better outcomes for 70+ clients, resulting in $983 million in total enterprise valuation created. Visit www.saas-capital.com to learn more.

By Wazoku

Wazoku is an innovation SaaS business that helps some of the world’s biggest organizations to innovate at scale. Whether it’s making the most of your employee's ideas, identifying new partners to collaborate with, or exploring the boundless potential of open innovation – or all three! – Wazoku makes innovation happen.