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Wazoku

Sector:
Software & Services
Invested in:
Calculus EIS, Calculus VCT

Wazoku is a software-as-a-service business providing innovation management software to customers including John Lewis, Ministry of Defence, HSBC and Bristol-Myers Squibb. Wazoku helps organisations transform raw ideas into actionable innovation, with the aim of realising untapped business opportunities, identifying areas for improvement, making operational savings and boosting revenue.

Wazoku’s mission is to help companies become every-day innovators and put continuous improvement at the core of their strategic capability. Wazoku has developed a market leading platform and suite of support services to enable firms to innovate at scale. Their core product, Idea Spotlight, is a Global Home for Ideas. It is a customisable off-the­‐shelf solution offering collaborative idea management modules to meet the diverse set of innovation requirements that global businesses have.

Successful innovation requires not only capturing ideas, but also collating, analysing and implementing them. The platform provides the process and structure to capture, evolve, evaluate, develop, measure, select and implement the best ideas from internal or external stakeholders.

Rationale

The idea management market is expected to grow from $421.6m as of 2017 to $1,519.2m by 2022¹ and Wazoku is well positioned to become a global leader in this emergent market segment. Idea management has significant benefits to organisations. Wazoku client Waitrose used ‘Ideas Spotlight’ in 350 stores, engaging with 60,000 employees. The software has enabled £3.5m in total savings and delivered a 1500% return on investment (ROI).

The funding from Calculus will enable the company to further expand their reach by investing in sales and marketing and continue the development of the product.

Simon Hill, Chief Executive of Wazoku commented “More and more organisations are realising the need to innovate, solve problems and generate new ideas to meet objectives. People are a business’s greatest resource when doing so but they also the need the best tools to unlock those ideas. We are excited about being able to reach more potential clients who would benefit from innovation management using the funds from Calculus Capital.”

1 Market Guide for Innovation Management Tools

Latest News

Wazoku acquires US open innovation leader InnoCentive assets and raises additional £1.25M, led by Calculus Capital, to support global growth

Idea management scaleup creates unique proposition for crowdsourcing, idea management and open innovation on one platform Idea management software and services firm Wazoku has announced a new funding round of £1.25M, led by Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist, Calculus Capital, supported by other shareholders and members of the Wazoku management team. Wazoku is also … Continued

Calculus invests £1m into Wazoku

Calculus Capital has invested £1m in Wazoku Limited, a fast-growing software-as-a-service (SaaS) business providing market-leading innovation management software to enterprise customers including John Lewis, HSBC and the Ministry of Defence. Wazoku’s mission is to enable companies to embed innovation as a core, strategic, everyday capability. Successful innovation requires not only capturing raw ideas, but also … Continued

Wazoku makes two senior hires

Idea management scaleup Wazoku has made two new senior hires, as the company readies itself for further growth in 2020. Kathryn Layland joins as Chief Revenue Officer (CRO) based in Wazoku’s London HQ, while Alex Butucea arrives as Wazoku’s new Director of Software Engineering, in the company’s Bristol office.  Layland has held senior global revenue positions with several AdTech solution providers and has experience of growing and scaling SaaS … Continued

Wazoku featured in the 70 fastest-growing tech firms in the UK by SVC2UK

70 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). The chosen scaleups – fast-growing companies that have expanded beyond the startup stage – are invited to a special summit in London later this month, and … Continued

Calculus invest £2.5m in ideas management software company Wazoku

Calculus are delighted to announce a 2.5m investment in Wazoku. Wazoku’s main product is Idea Spotlight, an idea management platform used by enterprise clients including the UK Ministry of Defence, John Lewis & Partners, HSBC, and Aviva. The goal of the platform is to capture, evaluate, improve and implement ideas from across any audience, whether … Continued