Five-year-old San Francisco based startup Zocuments sold its business Tuesday to a European consortium (WCG)
Online PR News – 08-September-2021 – San Francisco, CA – Zocuments, San Francisco tech startup, sells for $2.5 million
Five-year-old San Francisco based startup Zocuments sold its business Tuesday to a European consortium (WCG) in a deal worth U.S. $2.5 million, according to media reports. The Zocuments app will be bought for $2 million and its domain name for another $500,000.
Zocuments offers business automation tools to create documents without the need for human intervention or review. Launched in October 2016, the website receives over 10,000 unique visits per month and boasts nearly 1,000 customers. Riley Stevens, the founder, said much of the growth came about during the rise of businesses shifting to remote work.
It struggled in its early days gaining the trust of businesses to sign up for its monthly subscription services, which handles sensitive business data on behalf of customers. So Zocuments changed its course and started offering its programmable API to customers directly for a premium fee.
That immediately attracted Fortune-500 companies who began paying for premium services including dedicated support, architectural guidance, account management, and training.
WCG's President Victor Pez declined to comment, referring Tech News to the Zocuments press release on the deal.
In the release, Zocuments founder Riley Stevens said business automation plays an increasingly critical role in the remote working trend seen across the globe. "As companies seek to bring fewer workers into offices each day, business automation is just the beginning to ensure seamless operations, quality communication, and employee and customer satisfaction." Riley went on to add.