Wazoku Secures $2M in Growth Financing From SaaS Capital

SaaS Capital, the leading provider of growth debt to software-as-a-service (SaaS) companies, 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.”

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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.”

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.

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