Boise venture capital firm StageDotO pulled in another investment, with the startup poised to scale up in Boise.
The firm invested in Los Angeles, CA-based Zonguru (pronounced ZON-guru) – which makes a suite of tools to help sellers succeed on Amazon Inc.’s popular third-party seller marketplace.
“This is a product that helps support Amazon sellers to select products to bring to the Amazon Marketplace, StageDotO’s general partner Matt Puopolo said. “It assists in optimizing their products and business for listing placement, and helps drive and manage their Amazon seller business.”
Zonguru launched in 2015, and launched its current product in 2019, according to Puopolo.
“It’s the first-ever toolset that’s completely integrated with not only Amazon North America, but Australia and Europe which are the fastest-growing e-commerce markets right now, They are launching India in about a month.”
Growth ahead in Boise
Company CEO John Tilley is based in Los Angeles, and co-founder and chief technical officer Stefan Ratchev is based in Sofia, Bulgaria. The team of about 25 currently works around the world in an all-remote setup, but future growth could come to Boise.
“Part of our investment strategy from our second fund is to have an operating presence in Idaho, typically in Boise,” Puopolo said. “With the investment capital, these guys are focused on growth initiatives. The buildout of their business development team and sales team, and other resources like customers success and marketing and content creation — they are going to be scaling out and building out resources in Boise.”
Tilley came to Boise as part of the pre-investment process with StageDotO.
“He got introduced to our ecosystem,” Puopolo said. “For him, it just clicked: The basics of scaling a company in an environment and up-and-coming location like Boise.”
“The exits that have taken place in the Treasure Valley have helped the ecosystem in many ways,” he said. “One of those factors is that talent was able to come up in those companies – but now that they are having exits, you have resources looking for the next thing for their career. Some are interested in getting engaged with earlier-stage-type startup companies.”
Puopolo didn’t reveal terms of the investment round.