Today, I’m very proud to announce that doola has closed an $8M round of funding from Nexus Venture Partners with participation from the Y Combinator Continuity Fund and other amazing investors. We’re doing this to help founders globally access American entrepreneurship by democratizing access to the US financial ecosystem and empowering anyone to turn their dream idea into their dream business.
Before getting into the details of what this means, I want to take a second to reflect on our journey as a company so far.
A (brief) history
When I was 6 years old, I immigrated to America.
My parents did this so that my brothers and I would have access to the opportunity that America held.
In a nutshell, this is what @doolaHQ does for US and non-US founders around the world: provide access to American entrepreneurship.
doola started with a dream: What if you could click a button and not just “form” a company but use software and tech-enabled services to help you run and grow it?
This was a pain we had felt ourselves, and thought there had to be a better way…
We quickly realized there was a massively underserved market out there, and after going through @ycombinator, we raised $3M.
As Y Combinator says during the batch, as a startup, there are two major things you should be doing:
Talking to users
Post YC, we didn’t stop doing this…
From talking to users, we learned that founders didn’t want to just “form” a company…
They wanted a long-term partner to help them run and grow their business.
So we built a business-in-a-box .
From talking to users, we learned that oftentimes they just wanted to talk to a human for a few minutes to clear out any final doubts — starting a company is scary!
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