HubSpot Ventures Invests in doola to Support Global Entrepreneurs
doola, a company that helps global entrepreneurs set up businesses in the U.S., has recently received a strategic round of investment from HubSpot Ventures. This investment will enable doola to scale its support for the next generation of small businesses worldwide. HubSpot Ventures joins existing investors including YCombinator and Nexus Venture Partners.
With the support of doola, entrepreneurs can easily form an LLC, C Corp, or DAO LLC in the U.S., including states like Wyoming and Delaware. doola provides various services such as obtaining an EIN, a U.S. address, a U.S. bank account, a payment gateway, and ongoing state compliance and IRS tax filings. By streamlining these processes, doola allows entrepreneurs to focus on their core business activities.
Growing Interest in US Business Formation Drives doola’s Success
The success of doola can be attributed to the growing interest in U.S. business formation. According to reports, the number of monthly business applications in the U.S. has reached over 400,000, indicating a significant increase in business formation. It is estimated that there will be over 5 million business formations in the U.S. in 2023. Additionally, there are 400 million small businesses operating internationally. This surge in entrepreneurial activity has created a demand for services that simplify the business formation process, which doola fulfills.
doola Raises Strategic Investment from HubSpot Ventures
doola’s recent strategic investment from HubSpot Ventures comes less than a year after the company secured $8 million in series A funding. HubSpot Ventures recognizes the potential of the small business community and aims to support its growth through this investment. doola’s innovative “business-in-a-box” solution aligns with HubSpot’s goal of empowering entrepreneurs globally. This partnership will help both companies collaborate and provide better support to global business builders.
doola Simplifies LLC Formation for Global Entrepreneurs
One of the key services offered by doola is the simplified formation of Limited Liability Companies (LLCs). This feature, known as Business-in-a-Box™, simplifies the process of forming a company and provides entrepreneurs with long-term post-formation support. With doola, entrepreneurs no longer need to rely on multiple solutions for company formation, obtaining an EIN, and opening and managing bank accounts. doola’s platform seamlessly takes care of these business management functions, allowing entrepreneurs to focus on their core competencies.
HubSpot Ventures Joins Nexus Venture Partners in Backing doola
HubSpot Ventures is the latest addition to the group of existing investors supporting doola. Nexus Venture Partners and YCombinator have already invested in the company. This collective support from prominent investors signifies the confidence they have in doola’s potential and the value it brings to entrepreneurs worldwide. The collaboration with HubSpot Ventures will further strengthen doola’s position in the market and accelerate its mission of helping one billion founders turn their dream ideas into successful businesses.
In conclusion, doola’s recent partnership with HubSpot Ventures highlights the growing interest in U.S. business formation and the need for streamlined services that support entrepreneurs globally. Through this investment, doola aims to scale its support for small businesses worldwide, empowering entrepreneurs to focus on their core business activities while doola takes care of their backend business management functions. With the support of HubSpot Ventures, doola is well-positioned to continue its growth and make a significant impact on the entrepreneurial ecosystem.
Analyst comment
Positive
As an analyst, it is expected that doola’s partnership with HubSpot Ventures will strengthen its position in the market and accelerate its mission of supporting small businesses globally. With HubSpot Ventures’ investment, doola can scale its services and empower entrepreneurs to focus on their core business activities. This collaboration is expected to have a positive impact on the entrepreneurial ecosystem and contribute to doola’s continued growth.
