Last Updated: 16 December 2024
Chargezoom, a leading platform for AI-powered billing and integrated payments, has raised $11.5 million in Series A funding. This significant milestone was spearheaded by Salt Lake City's Kickstart Fund, marking the company’s formal entrance into Utah’s thriving tech ecosystem.
Chargezoom’s entry into the Utah tech scene brings a fresh perspective to payment automation. The company’s platform uses cutting-edge AI and machine learning to address gaps in the payments industry. Businesses across the U.S. have benefited from Chargezoom’s seamless and efficient solutions, which accelerate cash flow and eliminate manual tasks.
"Chargezoom is leveraging AI and machine learning to solve crucial needs in the payment space that we're not seeing anywhere else. We're excited to support their mission to automate AR for growing businesses."
Alex Soffe, General Partner and CFO at Kickstart Fund
Since its 2021 Seed round, Chargezoom has achieved growth of 3,972%, reflecting its ability to meet the increasing demand for modern financial tools.
The newly raised funds will support product development, market expansion, and team growth. By enhancing its platform’s capabilities, Chargezoom aims to provide businesses with even faster and more autonomous AR processes.
With this investment, Chargezoom plans to explore new markets and refine its tools to better serve businesses of all sizes. The company’s ambitious goals include becoming the market leader in AR automation while maintaining its commitment to innovation and customer-centric solutions
Founded by Matt Dubois, Chargezoom is a forward-thinking platform that simplifies accounts receivable management. Chargezoom was established to address inefficiencies in payment processes, driven by a mission to make payments seamless and efficient.
What sets Chargezoom apart is its proprietary use of AI and machine learning, allowing businesses to reduce administrative workloads and focus on growth.
The platform’s unique features prioritize financial health while fostering operational agility.
Chargezoom’s journey began with a $2 million Seed round in July 2021. This early funding laid the groundwork for its innovative platform, which has since driven remarkable growth.
"We're very excited to move forward with a team of investors that share our values and are fully committed to our mission of being the market leader in AR automation"
Matt Dubois, founder and CEO of Chargezoom
Alongside Kickstart Fund, this funding round saw participation from notable investors, including Motley Fool Ventures, Early Light Ventures, Frazier VC, and Adly. Continued support was also provided by SaaS Venture Capital, Stout Street Capital, and Okapi Venture Capital.
