London-based idea generation and management platform Wazoku secured £750,000 in a round led by existing investors Cambridge Angels and New Model Venture Capital, bringing its total funding to date to £1.25m.
Wazoku supplies idea management software to some of the UK’s largest organisations including the BBC, NHS and the Ministry of Justice. Its flagship product ‘Idea Spotlight’ used to crowdsource ideas from internal and external business communities.
“It is a really exciting time for us as a business as we are seeing global demand for our software and have a highly experienced team to ensure we meet this demand,” Wazoku CEO and founder, Simon Hill, said. “We are seeing that as the broader economic outlook improves, innovation is moving back into focus and it is a great time to be in a sector as it matures into more mainstream, strategic adoption.”
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