About InnoCentive
InnoCentive is a Technology company based in Waltham (United States) founded in 2001, and was acquired by Wazoku in July 2020. Online freelancer marketplace platform for consultants. InnoCentive has raised $27.93 million across 4 funding rounds from investors including SAP, Wazoku and Omidyar Network. The company has 27 employees. InnoCentive has completed 1 acquisition, including OmniCompete. Its website innocentive.com draws about 25 thousand monthly visits. InnoCentive offers products and services including Crowd Challenges and Solver Community. Its focus areas include Enterprise Applications, HRTech, Freelancer Marketplace and Expert Consulting. Its legal entity is INNOCENTIVE, INC. Its competitors include Catalant and Askwonder; 1 of its 2 listed competitors has raised funding.
Company details
InnoCentive was founded in 2001 and is based in Waltham, United States. An online platform is operated as a marketplace for consultants in the innovation and problem-solving sector. Organizations post challenges, solutions are submitted by participants, evaluations are conducted to select viable options, and incentives are provided to chosen solvers. Operations focus on connecting seekers with expertise across various fields.
- Headquarters Waltham, United States
- Employees 27
- Stage Acquired
- SectorsTechnology
- Website category Business and Consumer Services · Business Services
- Phone•••• ••••
- Website innocentive.com
- Social LinkedIn X Facebook
- Acquired by Wazoku (Jul 2020)
- Legal Name Innocentive, Inc.
Products & Services of InnoCentive
InnoCentive offers a comprehensive portfolio of products and services, including Crowd Challenges and Solver Community.
Platform for posting and solving scientific and technology challenges
Community for solvers to collaborate on innovation tasks
Funding Insights of InnoCentive
InnoCentive has successfully raised a total of $27.93M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $5.13 million completed in November 2011. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $27.93M
- Total Rounds 4
- Last Round Series B — $5.13M
- First Round $9M
(Feb 2006)
- Investors Count 5
All 4 funding rounds of InnoCentive with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2011 | $5.13M | Series B | – | – | – |
| Aug 2009 | $7.3M | Series B | – | Spencer Trask & Co | – |
| May 2008 | $6.5M | Series B | – | SAP, In-Q-Tel | – |
| Feb 2006 | $9M | Series A | – | Spencer Trask & Co |
6 investors in total: 6 institutional.
Investors in InnoCentive
InnoCentive has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include SAP, Wazoku and Omidyar Network.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Tech & Life Science focused early stage VC firm investing in the US | spencertraskco.com | Greenwich, United States | ||
Venture capital firm | iqt.org | Washington, Dc, United States | ||
Early-stage life sciences investments are targeted in the healthcare sector. | lillyventures.com | Indianapolis, United States | ||
Investing in technology, digital culture, governance, and business initiatives. | 2004 | omidyar.com | Redwood City, United States | |
Cloud and AI-based ERP software is offered for enterprises. | 1972 | sap.com | Walldorf, Germany | |
Cloud-based idea management software is offered to organizations. | 2011 | wazoku.com | London, United Kingdom |
Investor details for InnoCentive
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- Complete investor list
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People of InnoCentive
8 people are tracked at InnoCentive (8 in team); the tracked headcount is 27.
| Name | Role | Group |
|---|---|---|
Nk Tharun Nagarajan | Problem Researcher | Team |
Melinda Thomas | Sales Support Specialist | Team |
Simon Hill | Owner | Team |
Michael Kardauskas | Problem Solver | Team |
Omar Monroy | Awarded Solver Of Technological Challenges | Team |
Dmitriy Tipikin | Problem Solver | Team |
Justin Chen | Solver | Team |
M Toomey | CS | Team |
Complete people profiles for InnoCentive
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Investments & Acquisitions by InnoCentive
InnoCentive has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include OmniCompete.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Innovation competition events are organized and facilitated for participants. | omnicompete.com | London, United Kingdom | 2010 | Feb 2012 | •••• |
Complete acquisition details for InnoCentive
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Timeline of InnoCentive
5 dated milestones of InnoCentive across 19 years, from founding to its latest funding, stage changes and deals.
- Founded InnoCentive is founded.
- Funding First funding round of $9.0M.
- Funding Latest funding round, Series B, of $5.1M.
- Acquisition Acquires OmniCompete.
- Exit Acquired by Wazoku.
Competitors of InnoCentive
InnoCentive has 2 listed competitors in our database, 1 of them funded. They include Catalant and Askwonder.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| catalant.com | 2013 | Boston, United States | $153.35M | 140 | Expert consultants are matched with businesses through an online marketplace. | |
| askwonder.com | 2012 | New York, United States | Expert consultants are matched with clients via an online marketplace. |
Detailed competitors of InnoCentive
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Web traffic of InnoCentive
The website of InnoCentive (innocentive.com) receives about 24.8K visits a month and ranks #772,827 among all websites worldwide, #6,233 in Business Services.
- Monthly visits24.8K
▼ 4.6% vs previous month
- Unique visitors10.1K
per month
- Global rank#772,827
among all websites
- Category rank#6,233
Business and Consumer Services · Business Services
- Bounce rate39%
- Pages per visit5.1
- Average visit1 min 18 sec
- DevicesDesktop 22% · Mobile 78%
Websites whose visitors overlap most with InnoCentive. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| ideaconnection.com | 100% | 21.8K | #837,880 | View details | |
| yet2.com | 100% | 13.6K | #1,932,613 | View details | |
pgconnectdevelop.com | pgconnectdevelop.com | 95% | #1,895,522 | – | |
openinnovation.eu | openinnovation.eu | 92% | – | ||
| boardofinnovation.com | 87% | 74.6K | #474,470 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 21 similar websites and full traffic analytics for InnoCentive
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- 21 similar websites
- Audience overlap
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- Traffic by brand
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Top companies in HR & Workforce Technology
3 companies that operate in the same segment as InnoCentive (HR & Workforce Technology) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Anonymous employee reviews and job search platform are operated. | 2007 | San Francisco, California, United States | USD 201.5 M | 1,695 | ||
Cloud-based LMS platform for IT industry | 2004 | Farmington, Utah, United States | USD 235.41 M | USD 4.95 M | 1,774 | |
Employee health benefits are facilitated via a cloud-based platform. | 2007 | Plymouth Meeting, Pennsylvania, United States | USD 228.3 M |
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Related news about Innocentive
Complete news archive for InnoCentive
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Frequently Asked Questions about InnoCentive
InnoCentive was founded in 2001 and raised its 1st funding round 5 years after it was founded.
InnoCentive is headquartered in Waltham, United States. It is registered at Waltham, Massachusetts, United States.
InnoCentive is a funded company, having raised a total of $27.93M across 4 funding rounds to date. The company's 1st funding round was a Series A of $9M, raised on Feb 2006.
InnoCentive has 27 employees.
InnoCentive was founded in 2001 and is based in Waltham, United States. An online platform is operated as a marketplace for consultants in the innovation and problem-solving sector. Organizations post challenges, solutions are submitted by participants, evaluations are conducted to select viable options, and incentives are provided to chosen solvers. Operations focus on connecting seekers with expertise across various fields.
InnoCentive offers Crowd Challenges and Solver Community.
InnoCentive has made 1 acquisition, including OmniCompete.
InnoCentive has 6 investors. Key investors include SAP, Wazoku, Omidyar Network, Spencer Trask & Co, and In-Q-Tel.
InnoCentive operates through Innocentive, Inc..
Yes. InnoCentive was acquired by Wazoku in July 2020.