Chargezoom Secures $11.5 Million Series A Funding with Kickstart Fund Leadership

Chargezoom Announces Series A Funding

Chargezoom, the innovative platform specializing in AI-driven billing and integrated payment solutions, has officially stepped into Utah's tech landscape by securing $11.5 million in Series A funding. This latest financing round is spearheaded by Salt Lake City’s prominent Kickstart Fund, providing Chargezoom with invaluable resources to enhance its operations and expand its market reach.

The founder and CEO of Chargezoom, Matt Dubois, expressed excitement about this new chapter in the company’s journey. He stated, “We’re thrilled to be building Chargezoom right here in Utah. Not only does this validate our vision and provide critical resources, but we're also gaining an unbeatable strategic partner in Alex Soffe and the team at Kickstart.”

This funding update reflects Chargezoom’s impressive growth trajectory. Notably, the company had previously concluded a Seed round where it raised $2 million in July 2021, aimed at streamlining accounts receivable for businesses in need of efficient and agile financial processes.

Kickstart Fund’s Alex Soffe commended Chargezoom for its innovative approach, emphasizing, “Chargezoom is leveraging AI and machine learning to solve crucial needs in the payment space that we're not seeing anywhere else. We're excited to support their mission to automate AR for growing businesses.” Since the Seed funding stage, Chargezoom has experienced a staggering growth rate of 3,972%, underscoring its commitment to simplifying payment processes and boosting cash flow for businesses nationwide.

The fresh capital acquired through this Series A round will be pivotal in enabling Chargezoom to accelerate its expansion plans and enhance its platform’s capabilities. In alignment with its evolving vision, the company has strategically updated its investor lineup, marking the exit of BIP Ventures from its capital structure.

Chargezoom is pleased to onboard new investors that include Motley Fool Ventures, Early Light Ventures, Frazier VC, and Adly. These firms join existing investors such as SaaS Venture Capital, Stout Street Capital, and Okapi Venture Capital, reflecting a strong belief in Chargezoom's potential to revolutionize the accounts receivable space.

Matt Dubois voiced his enthusiasm, stating, “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.”

About Chargezoom

Chargezoom is dedicated to transforming how businesses manage accounts receivables. Utilizing a vast proprietary dataset combined with advanced AI and machine learning technologies, Chargezoom streamlines processes related to invoicing, maintaining cash flow, and facilitating customer payments. The platform ensures that businesses encounter no manual labor or wasted time, leading to smarter and faster AR practices that enhance financial health and allow for growth focus.

For anyone looking to streamline their financial operations, Chargezoom stands as an essential partner in navigating the complexities of accounts receivable management.