Total amount raised
$240.8 Millions
Latest funding date
5/1/2020
Location
Zola has successfully raised significant capital through multiple funding rounds, with the latest being a Series D. The company is backed by a diverse group of 17 investors, including BAM Elevate and Bienville Capital.
Keep reading to explore the intricacies of Zola's fundraising journey and the investors backing this innovative platform.
What Is Zola?
Zola, founded in 2013, is a wedding company based in New York, New York. The company was established by Felix Lung, Kevin Ryan, Nobu Nakaguchi, and Shan-Lyn Ma.
Specializing in wedding planning and registry services, Zola combines modern tools and technology with compassionate customer service to enhance the wedding experience. Their offerings include customizable gift registries, free wedding websites, and tools for finding venues and vendors.
With a team of 101-250 employees, Zola continues to innovate in the wedding industry, making the happiest moments in couples' lives even more memorable.
How Much Funding Has Zola Raised?
- Series A
- Amount Raised: $3.3M
- Date: November 2013
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop initial product offerings.
- Series A
- Amount Raised: $2.6M
- Date: October 2014
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product features and enhance user experience.
- Series B
- Amount Raised: $10M
- Date: November 2015
- Lead Investors: Canvas
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series C
- Amount Raised: $25M
- Date: November 2016
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and expand the team.
- Series D
- Amount Raised: $100M
- Date: May 2018
- Lead Investors: Comcast Ventures, Goldman Sachs Investment Partners, NBCUniversal
- Valuation at Round: Approximately $600M
- Motivation Behind the Round: To invest in cross-device product development and proprietary platform technology.
- Series D
- Amount Raised: $100M
- Date: April 2019
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and enhancing the platform.
- Private Equity Round
- Amount Raised: -
- Date: May 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for strategic initiatives.
- Series D
- Amount Raised: -
- Date: May 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial stability amid market uncertainties.
Total Amount Raised: $240.9M
Current Valuation: Approximately $600M
Key Investors
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, focusing on early to growth-stage companies. They leverage Comcast's resources to help startups scale.
- Investment Focus Areas: Media, entertainment, technology
- Notable Investments: Instacart, Nextdoor, FanDuel
- Goldman Sachs Investment Partners
- Details: A division of Goldman Sachs, this group focuses on private equity and venture capital investments. They have a global reach and invest across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Uber, Spotify, Pinterest
- NBCUniversal
- Details: NBCUniversal is a media and entertainment company that is a subsidiary of Comcast Corporation. They produce and distribute content across various platforms.
- Investment Focus Areas: Media, entertainment, technology
- Notable Investments: BuzzFeed, Vox Media, Snap Inc.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments. They support companies in the enterprise and consumer sectors.
- Investment Focus Areas: Enterprise, consumer, technology
- Notable Investments: Snapchat, Grubhub, Nest
- Canvas
- Details: Canvas Ventures is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Houzz, Zola, Transfix
What's Next for Zola?
Zola stands at the cusp of transforming the wedding industry, leveraging its substantial $100 million Series D funding to enhance cross-device product development and proprietary platform technology. This investment positions Zola to capitalize on the growing trend of digital wedding planning, offering a seamless experience for couples.
Future fundraising opportunities seem promising, given the company's strong backing from major investors like Comcast Ventures and Goldman Sachs. As Zola continues to innovate, it may attract further investments to expand its market reach and service offerings.
However, challenges such as intense competition and the need to maintain a robust technology platform could pose hurdles. Ensuring a flawless user experience across devices will be crucial for Zola's sustained growth and success in the evolving wedding industry.
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