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UK idea management startup Wazoku lands £750K for product development

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(Credit: Wazoku) This image file contains the company logo of London, UK-based idea management startup Wazoku.Wazoku
April 7
7:50 AM 2014

British idea generation and management startup Wazoku has secured £750,000 in a new financing round. Existing investor Cambridge Angels and New Model Venture Capital were the lead investors in the funding, according to TechCrunch.

The UK-based startup will use the capital infusion to fuel its product development and growth efforts. The latest funding brings Wazoku's total raised capital to £1.5 million. Meanwhile, the company will hire former Huddle vice president Jon Landau to be its new Chief Operating Officer (COO), the report detailed.

In the UK, Wazoku's most notable clients include BBC, Capita, and Shot Direct. The firm has just inked an international tie-up with innovation company Innocentrix to market its idea management software in South Africa, the report explained.

Established in 2011, Wazoku helps companies generate and manage great ideas from within the organization and from outside stakeholders. Its flagship product is the web-based tool Spotlight that can segregate and prioritize generated innovation ideas for the organization, TechCrunch reported.

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