Venture Capital News: Qazzow Secures $2.4M in Series A
SEATTLE, WA, Developer of advanced Q&A technology for websites and web applications, announced today that it has closed a Series A private financing round of $2.4 million.
Seattle-based start-up Qazzow, Inc., a developer of advanced Q&A technology for websites and web applications, announced today that it has closed a Series A private financing round of $2.4 million. The round was co-led by WRF Capital (the venture investment arm of Washington Research Foundation) and Voyager Capital, with participation from Summit Capital, the W Fund and several strategic angel investors including Voyager's Venture Partner Geoff Entress.
Qazzow, a spin-out from the University of Washington's Information School, is focused on improving the on-line customer experience by providing users with instant answers in context-wherever they are on a site or in an application-with a single click or tap. This technology can be deployed on e-commerce sites on any device.
'We're pleased to announce this round of funding, which recognizes our early success in developing and commercializing the easiest, fastest, and most efficient way for website and web application owners to get answers to their users,' said Dr. Jake Wobbrock, Qazzow's Co-Founder and CEO. 'These top-tier investors are helping Qazzow become the leading provider of Q&A technology that drives e-commerce revenue and reduces support costs.'
The investment will allow Qazzow to acquire more customers, test and execute its go-to-market strategy, extend its service and capabilities, and recruit top tech talent. The Qazzow solution is already deployed with several pilot customers and the company expects a general release of its solution in the first quarter of 2014. Companies interested in trying Qazzow can request an account at and use Qazzow's tools to measure increases in their sales conversions.
'WRF Capital is excited to lead Qazzow's Series A financing alongside Voyager Capital and strategic angel investors,' said Thong Le, Managing Director for WRF Capital. 'Without a doubt, many online companies are looking to increase sales, reduce support costs, and gain insights into their customers, particularly as e-commerce increasingly moves to smartphones and tablets. We believe that the market will respond favorably to Qazzow's desktop and mobile product offerings, and that Qazzow will be well-positioned for rapid growth over years to come.'
'Voyager took a hard look at Qazzow-its business model, the technology, the team, and the early traction they've been getting with customers. We like what we see,' said Bill McAleer, Managing Director at Voyager Capital. 'Their innovative approach to increasing online sales through instant Q&A delivery to consumers is head-and-shoulders above other website self-service solutions on the market. We are confident that Qazzow will continue its successful path to market with this capital infusion.'
Thong Le from WRF Capital, Bill McAleer from Voyager Capital, and tech industry veteran Ken Myer will join Qazzow's Board of Directors as a result of this new financing.
Qazzow is revolutionizing the consumer e-commerce experience. The company's innovative information layer offers fast, concise answers at the point of customer action, driving increased sales, reducing support costs, and yielding valuable insights to inform site improvements for the desktop, tablet, and smartphone web. Qazzow is headquartered in Seattle, Washington, and more information can be found at http://www.qazzow.com.
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