News from the Wire

Chargezoom announces $11.5M Series A

Monday, December 16, 2024 — 12:45:03 (EST)

SILICON SLOPES, Utah, Dec. 16, 2024 /PRNewswire/ -- Chargezoom, a leading platform for AI-powered billing and integrated payments, announced today it has raised $11.5 million in Series A funding, led by Salt Lake City's Kickstart Fund.

This funding marks Chargezoom's official arrival on the Utah tech scene, setting the stage for the company to scale rapidly and efficiently with the support of Silicon Slopes' top early-stage venture fund.

"We're thrilled to be building Chargezoom right here in Utah," said Matt Dubois, founder and CEO of Chargezoom. "Not only does this validate our vision and provide critical resources, we're getting an unbeatable strategic partner in Alex Soffe and the team at Kickstart."

This round is another key milestone in Chargezoom's rapid growth. Previously, the company closed a $2 million Seed round in July 2021. This investment helped Chargezoom simplify accounts receivable for businesses that need more efficient, agile financial processes.

"Chargezoom is leveraging AI and machine learning to solve crucial needs in the payment space that we're not seeing anywhere else," said Alex Soffe of Kickstart. "We're excited to support their mission to automate AR for growing businesses."

Since its Seed funding, Chargezoom has grown by 3,972%, driven by its mission to simplify payments and accelerate cash flow for businesses across the U.S. This latest round of funding will fuel Chargezoom's rapid expansion and bring new resources to its platform.

As Chargezoom enters this new phase, they have restructured their investor lineup to best align with their long-term vision and strategy. Accordingly, BIP Ventures has exited their position with Chargezoom.

Chargezoom is proud to welcome new investors Motley Fool Ventures, Early Light Ventures, Frazier VC and Adly alongside continued support from SaaS Venture Capital, Stout Street Capital, and Okapi Venture Capital. These partnerships underscore a continued belief in Chargezoom's mission and its potential to redefine the accounts receivable category.

"We're very excited to move forward with a team of investors that share our values and are fully committed to our mission of being the market leader in AR automation," said Matt Dubois.

About Chargezoom

Chargezoom is transforming the way businesses handle accounts receivables. Powered by an extensive proprietary dataset and using cutting-edge AI and machine learning, Chargezoom makes invoicing, cash flow, and customer payments seamless and autonomous. No manual work. No wasted time. Just smarter, faster AR that drives financial health and frees businesses to focus on growth.

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Source: Company press release.