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Venture Capital News: ZipBooks Grabs $2M Seed Round

2016-07-20
LEHI, UT, ZipBooks has raised a $2 million seed round investment.
Peak Ventures, the Provo, Utah-based seed-stage venture fund, today announced it led a $2 million seed round investment in accounting software startup ZipBooks, with participation from Pelion Venture Partners, Liquid 2 Ventures and existing angel investors.

After leading a $300K micro investment raise in 2015, Peak Ventures is excited to continue to fuel growth with this investment. 'We are really impressed with the team at ZipBooks. They have been able to do a lot with very little,' explained Sid Krommenhoek, founder and Managing Partner at Peak Ventures. 'Their ability to recruit top talent and execute on their business model has been impressive, and is only going to improve.'

With the funding in place, ZipBooks has already been able to recruit additional talent. Jaren Nichols joins ZipBooks as Chief Revenue Officer from Insidesales.com where he was their Director of Global Sales Strategy. Previous to InsideSales.com, Jaren worked for Dropcam, Nest Labs, and Google and completed his MBA at Harvard Business School.

'Peak caught the vision early on of what ZipBooks could become, and they've been a great partner as we've started to realize that vision,' said Tim Chaves, founder and CEO of ZipBooks. 'Thousands of small business owners have fallen in love with this service over the past year, and we couldn't be more excited to bring the ZipBooks experience to many more of them.'

About Peak Ventures

Peak Ventures is an early-stage venture capital firm based in Provo, Utah. Peak Ventures backs talented entrepreneurs going after big markets with exceptional technologies. The thesis is simple: innovation and those who drive it are at the top of the food chain - not the VC. The team is made up of entrepreneurs experienced in the grind of starting, operating, growing and harvesting exciting companies. For more information, visit: http://www.peakventures.vc.

About ZipBooks

ZipBooks is the first accounting software program that lets business owners send and finance an invoice in a single click. ZipBooks provides bookkeeping and credit card processing features without a paid monthly subscription. For more information, visit: http://www.zipbooks.com.
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