Juro, the London-based end-to-end contract management platform has confirmed securing $5 million in Series A financing led by Union Square Ventures. The round also saw participation from existing investors Point Nine Capital, Seedcamp, TransferWise, co-founder Taavet Hinrikus, and Indeed co-founder Paul Forster. Before this funding, the firm had picked up $2 million in seed funding from Point Nine Capital and Seedcamp. The current infusion takes the total amount raised by the firm to $7.8 million.
Juro was founded by Pavel Kovalevich and Richard Mabey in 2016. The platform offers an end-to-end contract workflow tool, designed for the modern business with the help of AI technology. Since its inception, the firm counts the names like Deliveroo, Skyscanner, Envoy, Babylon Health and Reach among its 50,000 customers.
Mabey, the CEO of the firm talking about the deal said, "Contract management systems are invariably designed by lawyers for lawyers. We’re rebuilding contracts for the end-user. We’re delighted to partner with USV as we execute on our vision to transform legal contracts into dynamic, modular agreements that reflect and empower business relationships. It’s great to see so many businesses supporting this approach and joining our community.”
Union Square Ventures' partner John Buttrick commenting on the funding said, “We look for founders with products equipped to change an industry. While contract management might not be new, Juro’s transformative vision for it certainly is. There’s no greater proof of the product’s ease of use than the fact that we negotiated and closed the funding round in it. We’re delighted to support Juro’s team in making their vision a reality.”
Image Courtesy : Juro