New Model et al. inject £750,000 into Wazoku
New Model Venture Capital, Cambridge Angels and additional investors have injected £750,000 into London-based idea management firm Wazoku.
This latest funding round brings Wazoku's total growth capital to £1.25m. The fresh capital will be used for accelerating the start-up's product development and its growth into new markets. The company recently recruited former Huddle vice president Jon Landau as COO.
Investment group Cambridge Angels also participated in Wazoku's seed funding round in early 2013.
New Model is a fund manager set up by the founders of Find Invest Grow (Fig); it manages an evergreen venture fund.
Company
Based in London and founded in 2011, Wazoku is an idea management software company. Its core software product, Idea Spotlight, allows organisations to crowd-source ideas from internal or external communities. The software provides structure for ideas, as well as a space for employees, partners, customers and the general public to submit, discuss and develop them. Clients include the NHS and the BBC.
People
Simon Hill is the founder and CEO of Wazoku.
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