Supporting the Next Generation of Business Builders: HubSpot Ventures invests in doola

There’s a good chance that if we asked people to share one of their 2024 New Year’s resolutions, we’d hear “Start my own business” more than a few times. The U.S. Census Bureau reported that over 450,000 business formation applications were filed in November 2023 alone. Many people dream of turning their passion, talent, or idea into a thriving business, but the journey to entrepreneurship is often difficult to embark on.  

A major challenge for business builders is learning the ins and outs of starting and operating a business while simultaneously building one. Entrepreneurs often juggle the tasks and responsibilities of multiple roles alone. They don’t have enough time to discover and implement the appropriate front-office business tools to keep their companies running and in compliance with the law. For business builders in emerging economies, gaining access to the large U.S. market can seem impossible, limiting opportunities for scalable success.  

New entrepreneurs worldwide need solutions that streamline the business formation process so they spend less time bogged down by backend management tasks and more time focusing on their craft and customers.

Our Investment in doola 

HubSpot is dedicated to supporting all business builders at every step of their journey. Growing better starts with having the right resources on hand to get a business started from day one. That’s why when Arjun Mahadevan pitched his easy-to-use, business-in-a-box solution, doola, during the Million Dollar Pitch Competition at INBOUND 2023, the judges agreed that the company would be a natural partner for HubSpot.   

Today, HubSpot Ventures is thrilled to officially announce our strategic investment in doola, the all-in-one business compliance solution. With doola, small business builders have the tools they need to easily start and grow their companies. 

As a platform for global teams with global ambitions, doola makes it “click-button easy” for solopreneurs to set up a US-based LLC, get a US bank account, and access the payment products and financial services usually reserved for US-based businesses. doola is continuously expanding its product offerings to support business builders at every stage of their entrepreneurship journey. Currently, its main product line is the Total Compliance package, which includes the bookkeeping tool, doola books, and the tax filing software, doola taxes, as well as a dedicated account manager.

doola business in a box

doola supports entrepreneurs at every step of their business-building journey by providing ongoing support for payment processing, banking services, tax filing, compliance, and more. 

Part of what makes doola special is its focus on new entrepreneurs in the growing creator economy. According to a study by Adobe, 303 million creators were in the global creator economy in 2022. These are millions of talented people who want to bring fresh and innovative ideas to the market but might not have the time, resources, or expertise to manage the complex, but necessary backend business management functions. doola simplifies the U.S. company formation and compliance processes for independent entrepreneurs from diverse backgrounds, opening up a world of economic opportunity for creators around the globe.   

Democratizing Business for Scalable Success

HubSpot aims to build a business that future generations will be proud of and investing in doola helps us to achieve this goal. By partnering with doola, we can work together to eliminate location and limited resources as barriers to success and support future business leaders turn their dream ideas into their dream businesses. 

Learn more about how doola empowers entrepreneurs to create their dream businesses and if you want to take a peek at their Million Dollar Pitch Competition winning deck, check it out here.

Originally published Jan 9, 2024 8:24:23 AM, updated May 13 2024