InnoCentive
Latest round
- Series B
Last raised
- Aug 2009
Total raised
- $23M
Investors
- 5
About InnoCentive
InnoCentive, Inc.InnoCentive, Inc. was founded in 2001 and is headquartered in Waltham, Massachusetts, US. The company operates a crowdsourcing platform that connects individual solvers with corporations, universities, and charities to tackle various challenges. In July 2020, InnoCentive was acquired by Wazoku Ltd. as part of a strategic pivot to enhance its offerings.InnoCentive operates a leading marketplace for science, technology, and innovation, offering a platform that connects individual solvers with corporations, universities, and charities to address various challenges. The primary service is a crowdsourcing platform where innovative ideas and solutions can be submitted in response to specific challenges presented by large organizations. Clients include major corporations and institutions seeking external input to enhance their research and development efforts.InnoCentive generates revenue through a transaction model that focuses on challenge-based submissions. Corporations and organizations pay to post challenges on the platform, incentivizing solvers with cash awards for successful solutions, which can range from USD 100 to several thousand dollars depending on the complexity and significance of the challenge. The business structure is primarily B2B, facilitating direct partnerships and transactions between corporations and individual solvers.Looking ahead, InnoCentive plans to enhance its platform with new features aimed at improving user experience and engagement. The company is targeting expansion into emerging markets in Asia and Africa by the end of 2023, seeking to tap into a broader range of innovators and organizations.50 mn will support these initiatives, facilitating technological advancements and market penetration efforts, following its acquisition by Wazoku Ltd. in July 2020.
Who invested in InnoCentive
5 investors across 3 rounds
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Questions about InnoCentive
Who invested in InnoCentive?
InnoCentive has 5 investors on record across 3 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has InnoCentive raised?
InnoCentive has raised 3 venture rounds. Sign up free to see how much each round raised and the total.
When did InnoCentive last raise money?
InnoCentive's most recent round on record is a Series B, in Aug 2009.
What does InnoCentive do?
InnoCentive is a internet company.
Where is InnoCentive headquartered?
InnoCentive is headquartered in Waltham, US.
Which VCs invest in companies like InnoCentive?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back internet companies at InnoCentive's stage. Their profiles are linked below.
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