ZenBusiness Revenue, Valuation, Funding & Investors

ZenBusiness is valued at $1.7B as of November 2021, a 21.3x multiple on its last reported $80M revenue.

Last ZenBusiness valuation

$1.7B

Series C · Nov 2021

Last ZenBusiness funding round

$3M

Seed · Sep 2022

ZenBusiness revenue

$80M

Series C · Nov 2021

Key investors in ZenBusiness

  • Greycroft
  • Lerer Hippeau
  • ATX Venture Partners
  • Revolution
  • Cathay Innovation
  • Interlock Partners

ZenBusiness Overview

About ZenBusiness

ZenBusiness is an all-in-one platform for small business formation, compliance, and operations headquartered in Austin, Texas. Founded as a Public Benefit Corporation, it handles LLC filings, registered agent services, EIN acquisition, and banking setup across all 50 U.S. states. ZenBusiness partners with the U.S. Small Business Administration's SBDA alongside Google and Amazon, and offers marketing tools plus expert support via phone and webinars.


Founded

2017

HQ

United StatesAustin, TX

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$80M (Nov 2021)

Valuation

$1.7B (Nov 2021)

ZenBusiness Valuation

ZenBusiness is currently valued at $1.7B, based on its Series C in November 2021.

The $200M round was led by Oak HC/FT, with participation from SoftBank Group, Sahin Boydas, Greycroft, ATX Venture Partners, Alumni Ventures and 1 other investor.

ZenBusiness valuation by funding round

ZenBusiness valuation by funding round
DateStageValuationRevenue Multiple
Nov 2021Series C$1.7B21.3x

ZenBusiness Revenue

ZenBusiness' latest recorded revenue is $80M, as of its Series C in November 2021. At a $1.7B valuation, that implies a 21.3x revenue multiple.

ZenBusiness revenue by funding round

ZenBusiness revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2021$80M$1.7B21.3xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ZenBusiness Funding History

ZenBusiness has raised a total of $277M across 5 funding rounds.

ZenBusiness' first fundraising round was a $5M seed round in February 2018. The most recent completed round was a $3M seed round in September 2022.

ZenBusiness funding rounds

ZenBusiness funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2022Seed-$3M-ZenBusiness raised $2.46 million in a Series Unknown or Later Stage VC round in September 2022, contributing to its total funding of approximately $277 million. The company provides a cloud-based platform helping entrepreneurs launch, run, and grow businesses with services including formation, compliance, fintech tools like invoicing and payments, and business management. This small round followed the $200 million Series C in November 2021, led by Oak HC/FT and SoftBank Vision Fund 2, which valued ZenBusiness at $1.7 billion and marked it as a Texas unicorn. No lead investors were publicly disclosed for the 2022 round. The funds supported ongoing platform growth and development. ZenBusiness, headquartered in Austin, Texas, had raised $275-277 million across multiple rounds by late 2022, employing 501-1,000 people as of mid-2025.
Nov 2021Series COak HC/FT (lead); SoftBank Group; Sahin Boydas; Greycroft; ATX Venture Partners; Alumni Ventures; Cathay Innovation$200M$1.7BZenBusiness is a comprehensive SaaS platform founded in 2017 that provides entrepreneurs with tools, fintech solutions, educational resources, and customer support to launch, run, and grow businesses, including LLC formation, compliance, website creation, and a centralized app dashboard. The company helps gig workers, online sellers, real estate investors, artists, and freelancers manage finances, stay compliant, and scale operations. On November 9, 2021, ZenBusiness closed a $200 million Series C funding round led by Oak HC/FT, with participation from SoftBank Vision Fund 2, Cathay Innovation, Greycroft, Alumni Ventures, ATX Venture Partners, and others including Sahin Boydas. The round valued the company at a post-money $1.7 billion, establishing it as Austin and Texas' newest unicorn and the largest SaaS financing out of Austin that year. Total funding raised to date reached approximately $275-277 million across six rounds. Proceeds were earmarked for product investments, particularly enhancing the ZenBusiness app for customer growth and fintech capabilities like merchant services and financial tracking to empower business owners. Concurrently, Mark Cuban joined as an advocate and spokesperson to boost brand recognition among entrepreneurs. ZenBusiness experienced surging demand during the pandemic as more individuals started businesses, fueling platform growth. It positions in the competitive fintech and small business services market, democratizing tools traditionally reserved for larger enterprises, with backing from prominent healthcare/fintech-focused VCs like Oak HC/FT managing $3.3B in assets.
Nov 2020Series BCathay Innovation (lead); Breyer Capital; Lerer Hippeau; GreatPoint Ventures; Omega Venture Partners; Interlock Partners; Greycroft; ATX Venture Partners; Gutbrain Ventures; Mark Ventures$55M-ZenBusiness is a platform providing incorporation, business registration, and operational services to micro and small businesses. On November 19, 2020, the company announced a $55 million Series B funding round led by global venture capital firm Cathay Innovation. Additional investors in the round included GreatPoint Ventures, Breyer Capital, Omega Venture Partners, and returning investors Greycroft, Lerer Hippeau, Interlock Partners, mark vc, and Austin-based ATX Venture Partners. At the time of the Series B, ZenBusiness had over 150 employees and reported 100% year-over-year revenue growth, with more than 80,000 small businesses having launched on its platform. The company had released its third generation website builder tool and expanded additional features. Proceeds were earmarked to expand banking services and create additional educational materials for entrepreneurs.
Sep 2019Series AGreycroft (lead); Lerer Hippeau; Rosecliff Ventures; Interlock Partners; Revolution; ATX Venture Partners; Recruit Strategic Partners$15M-ZenBusiness raised a $15 million Series A round in September 2019 led by Greycroft, with participation from Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Rosecliff Ventures, Interlock Partners, and Recruit Strategic Partners. The funding aimed to expand the platform's capabilities, build community features for small business owners, and enhance services beyond its initial automated registered agent product. ZenBusiness, founded in 2017, provides a one-stop platform for entrepreneurs to form LLCs, create websites, file documents, and maintain legal compliance. At the time of the Series A, the company had grown to 40 employees, primarily in Austin with a small office in Peru, and had transitioned to a public benefit corporation to align with its mission of supporting small business entrepreneurs. The platform integrated tools like a simple webpage creator and partnerships with providers such as Xero for accounting, combining automation with human support. This followed a $4.5 million seed round in February 2018 led by Lerer Hippeau. Subsequent rounds included a $55 million Series B in November 2020 and a $200 million Series C in November 2021 at a $1.7 billion valuation led by Oak HC/FT.
Feb 2018SeedLerer Hippeau (lead); VTF Capital; Slow Ventures; Revolution; Greycroft; Brian Sharples; Founders Fund; Geekdom Fund$5M-ZenBusiness raised $4.5 million in a seed round in February 2018 led by Lerer Hippeau, with participation from investors including Brian Sharples, Founders Fund, Geekdom Fund, Greycroft, Revolution’s Rise of the Rest Seed Fund, Slow Ventures, and VTF Capital. The funding supported development of its initial platform and services to help entrepreneurs start businesses. The company offers automated incorporation filing, privacy protection as a registered agent, and a $10 monthly worry-free guarantee covering compliance filings and fines. ZenBusiness targets the small business market, including freelancers, gig workers, pet sitters, and plumbers, aiming to launch one million small businesses by 2023. Its platform provides a dashboard for managing entity compliance, annual filings, and franchise taxes. The company plans to expand as a scalable cloud platform with additional modules. By February 2019, ZenBusiness had over 6,000 customers, with pure SaaS monthly revenue around $1,725, equating to roughly $100,000 monthly total revenue including transactional components, and two-thirds of revenue from subscriptions.

Who has invested in ZenBusiness?

22 investors have backed ZenBusiness across its funding rounds, including Greycroft, Lerer Hippeau, ATX Venture Partners, Revolution, Cathay Innovation and Interlock Partners.

Lead investors include Oak HC/FT, Cathay Innovation, Greycroft and Lerer Hippeau.


ZenBusiness Investors

Investors in ZenBusiness by funding rounds participated
InvestorHQRoundsRoleFirst check
GreycroftUnited StatesNew York City, NY4LeadFeb 2018
Lerer HippeauUnited StatesNew York City, NY3LeadFeb 2018
ATX Venture PartnersUnited StatesAustin, TX3ParticipantSep 2019
Interlock PartnersUnited StatesDallas, TX2ParticipantSep 2019
RevolutionUnited StatesWashington, DC2ParticipantFeb 2018
Cathay InnovationUnited StatesSan Francisco, CA2LeadNov 2020
Breyer CapitalUnited StatesSan Francisco, CA1ParticipantNov 2020
GreatPoint VenturesUnited StatesNew Haven, CT1ParticipantNov 2020
VTF CapitalUnited StatesLas Vegas, NV1ParticipantFeb 2018
Rosecliff VenturesUnited StatesNew York City, NY1ParticipantSep 2019
SoftBank GroupJapanTokyo1ParticipantNov 2021
Sahin BoydasUnited StatesSan Francisco, CA1ParticipantNov 2021
Slow VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2018

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Acquisitions by ZenBusiness

ZenBusiness has acquired 3 companies to date.

Last acquisition by ZenBusiness was on February 23rd 2023. ZenBusiness acquired Logaster for undisclosed valuation.


Latest Acquisitions by ZenBusiness

Logaster
Ureeka
Joust
Description
Logaster is an online logo design platform acquired by ZenBusiness in 2023. Based in Yerevan, Armenia, it generates customizable logos, business cards, and brand kits using AI algorithms. Users select from millions of templates with color palettes and fonts tailored to industries like tech and retail. Logaster serves entrepreneurs worldwide for instant corporate identity creation.
Ureeka is a business growth platform headquartered in New York that connects small and medium-sized businesses with communities, best practices, and specialist services. It reduces growth risks for underrepresented SMBs through collaborative forums, expert marketplaces, and shared resources in areas like marketing, finance, and operations. The platform hosts virtual events and mentorship programs, partnering with organizations such as Goldman Sachs 10,000 Small Businesses. Ureeka operates in the United States, emphasizing scalable tools for revenue optimization and network expansion.
Joust is an Austin-headquartered banking platform for self-employed professionals, offering merchant services and business banking through FDIC-insured nbkc bank and PayArmour invoice factoring. Launched in 2017, it utilizes Q2 and StoneCastle technologies to provide financial stability via mobile access.
HQ CountryUkraineUnited StatesUnited States
HQ City
Chernivtsi
San Francisco, CA
Austin, TX
Deal Date23 Feb 202330 Sep 202230 Jul 2020
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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ZenBusiness Competitors

ZenBusiness competitors include listed companies like Intapp and Topicus, and private ones like Productboard, fabric, Zenoti and eSign.

Public and private companies comparable to ZenBusiness
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ProductboardUnited StatesSan Francisco, CAPrivate$72M-$1.7B24.0x
fabricUnited StatesSeattle, WAPrivate--$1.5B-
ZenotiUnited StatesSeattle, WAPrivate$35M-$1.5B-
eSignChinaHangzhouPrivate--$1.5B-
IntappUnited StatesUnited StatesPublicly listed$578M($16M)$2.8B4.5x
TopicusNetherlandsNetherlandsPublicly listed$1.8B$393M$5.4B3.0x

ZenBusiness Public Comps

ZenBusiness is still privately-owned, but its public comps include Wintech Nano (Suzhou) Co, Grupo GPS, Target Hospitality, Badger Infrastructure, Open Up Group, Matrix Design Co., BrightView, Dexterra Group, Johnson Service Group and RWS Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Wintech Nano (Suzhou) Co$79M$34M24.9x-58.0x-
Grupo GPS$3.4B$436M0.7x0.7x5.3x6.4x
Target Hospitality$321M$36M6.5x5.1x58.4x22.2x
Badger Infrastructure$832M$184M2.9x2.6x13.1x10.6x
Open Up Group$1.2B$121M0.8x1.0x8.4x8.3x
Matrix Design Co.$110M$12M7.7x7.2x69.8x-
BrightView$2.7B$307M0.9x0.9x8.0x7.2x
Dexterra Group$746M$78M1.1x1.0x10.5x8.5x

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Common questions about ZenBusiness

When was ZenBusiness founded?ZenBusiness was founded in 2017.
Where is ZenBusiness headquartered?ZenBusiness is headquartered in Austin, TX, United States.
Is ZenBusiness publicly listed?No, ZenBusiness is a private, VC-backed company.
What is ZenBusiness' valuation?ZenBusiness was last valued at $1.7B in its Series C in November 2021.
How much funding has ZenBusiness raised?ZenBusiness has raised $277M across 5 funding rounds.
What was ZenBusiness' last funding round?ZenBusiness' last funding round was a $3M seed round in September 2022.
Who are ZenBusiness' investors?ZenBusiness' investors include Greycroft, Lerer Hippeau, ATX Venture Partners, Interlock Partners, Revolution, Cathay Innovation, Breyer Capital, GreatPoint Ventures, VTF Capital, Rosecliff Ventures and 12 others.
What is ZenBusiness' revenue?ZenBusiness' latest recorded revenue is $80M (November 2021).
What is ZenBusiness' revenue multiple?ZenBusiness' latest valuation implies a 21.3x revenue multiple ($1.7B valuation on $80M of revenue).
Which companies are comparable to ZenBusiness?Companies comparable to ZenBusiness include Productboard, fabric, Zenoti, eSign, Intapp and Topicus.
How many companies has ZenBusiness acquired?ZenBusiness has acquired 3 companies, including Logaster, Ureeka and Joust.

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