Wazoku raises £8.5m in Series B funding led by Octopus Ventures to drive R&D and acquisitions
Octopus Ventures led the Series B round, which will fund product development and international expansion.
Wazoku provides an enterprise innovation platform that helps large organisations manage change and crowdsource ideas at scale.
Innovation scale-up Wazoku has secured £8.5m in a Series B funding round led by Octopus Ventures, with continued participation from existing backer Calculus Capital. The company will direct the capital towards research and development, international expansion, and corporate acquisitions to support its rapid growth over the coming years. Alongside the financing, Wazoku announced the acquisition of Danish collective intelligence platform Mindpool.
The transaction marks Wazoku's third corporate acquisition in three years and integrates Mindpool's employee insight tools into its existing product suite. The integration aims to expand the company's footprint in Denmark and across Europe while enhancing its collective intelligence offerings for global enterprise clients.
From the founder
"I’ve admired Mindpool as a business since its inception and I’m obviously a champion of collective intelligence, so it’s fantastic to be able to bring Mindpool into the Wazoku business,"
Simon Hill
CEO at Wazoku
Investor perspective
"In a world in which volatility and complexity are increasing and the nature of work and talent are drastically changing, it is critical that organisations develop the capability and capacity to think and act differently when it comes to change and innovation"
Rich Bolton
Octopus Ventures
Use of funds
- 01Fund research and development
- 02Expand into international markets
- 03Fund acquisitions
