London-based idea management startup Wazoku raises £2.5 million

The UK-founded SaaS idea management startup Wazoku has secured £2.5 million in a funding round led by Calculus Capital with participation from existing investors. This round brings the total amount raised by the company to £6.1 million.

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 that’s employees, customers, partners, the general public or another group of stakeholders altogether,” the startup stated in a press release.

“All organisations need to innovate, solve problems and generate new ideas to meet their objectives,” said Simon Hill, CEO, Wazoku. “Engaging with, and crowdsourcing ideas from different groups provides an exciting opportunity to radically rethink the way organisations collaborate and innovate.”