doola Raises Strategic Investment From HubSpot Ventures to Scale Support of Small Businesses Globally and Democratize Access to the US Financial Ecosystem

Jan 09, 2024 22:30 JST

Source: doola

HubSpot Ventures joins existing investors including YCombinator and Nexus Venture Partners. doola helps global entrepreneurs easily set up an LLC, C Corp, or DAO LLC in the U.S. (Wyoming, Delaware, and all other states) with support including EIN, U.S. address, U.S. bank account, payment gateway, and ongoing state compliance and IRS tax filings.

- doola helps global entrepreneurs start a US business with support including EIN, US address, bank account, and tax filings.
- HubSpot Ventures joins existing investors including YCombinator and Nexus Venture Partners.
- Business growth is at all-time highs: US monthly business applications are over 400K per month (on track for 5M+ formations in 2023 in the US), and there are 400M small businesses operating internationally.

NEW YORK, Jan 9, 2024 - (ACN Newswire) - doola announced today that they have raised a strategic round of investment from HubSpot Ventures to scale support of the next generation of small businesses globally. The new investment comes less than one year after the company secured $8 million in series A funding. HubSpot joins a group of existing investors that includes Nexus Venture Partners, the Y Combinator Continuity Fund, Hustle Fund, Jacqueline Reses, Dharmesh Shah, Ankur Nagpal, Rohini Pandhi, Sahil Bloom, Arjun Sethi and Prasanna Sankar.

doola + Hubspot Ventures

doola's signature Business-in-a-Box™ for LLCs simplifies the process of forming a company, along with long-term post-formation support for entrepreneurs worldwide. Business owners no longer need to piece multiple solutions together, from company formation to obtaining an Employer Identification Number (EIN) and opening and managing bank accounts; doola streamlines every step. With the innovation economy flourishing, doola supports business builders of all shapes, sizes, and backgrounds in their entrepreneurial endeavors by allowing them to focus on their crafts while the platform seamlessly takes care of unsexy, yet required backend business management functions, like tax compliance and bookkeeping.

"Our investment in doola signifies our strong belief in the potential of the small business community and our commitment to supporting its growth," said Brandon Greer, Head of HubSpot Ventures. "doola's mission and innovative ‘business-in-a-box' solution aligns with our goal to empower entrepreneurs everywhere, and we look forward to working together to help global business builders grow better."

Arjun Mahadevan, Founder and CEO of doola, said, "As doola supports the next generation of founders, solopreneurs, and side hustlers in not just starting but running and growing their businesses, there is an immense amount to learn from HubSpot. The ability to more tightly integrate with HubSpot to help our customers increases the likelihood that they'll succeed. At the end of the day, talent is everywhere, but opportunity is not and partnering with HubSpot allows us to scale faster towards our mission of helping 1B founders turn their dream idea into their dream business."

About doola

doola (YCombinator S20) helps entrepreneurs form U.S. LLCs, C Corps, and DAO LLCs by supporting customers through the incorporation process so they can confidently collect payments, build credibility, stay legal, and make more money. doola provides company formation, an EIN, a U.S. address and bank account, access to U.S. payments, a free tax consultation, U.S. tax support, a phone number, $1,000,000 in startup perks, and more. Today, thousands of companies have launched with doola, and these founders didn't need a U.S. social security number to benefit from doola's products and services. To date, doola has raised $13M in venture capital from YCombinator, Nexus Venture Partners, the YC Continuity Fund and more (HQ: New York City).

Contact Information
Arjun Mahadevan
Founder & CEOarjun@doola.com

SOURCE: doola