Contract automation platform Juro has raised £17 million in Series B funding, increasing its market valuation by more than five times.
Eight Roads, the global venture capital fund which previously invested in Alibaba, Cazoo and Appsflyer, led the round.
Juro is now used in over 85 countries and by 6,000 companies including Deliveroo, Cazoo, Trustpilot and TheRealReal. It has offices in London and Riga and a growing remote hub.
Existing investors Union Square Ventures, Point Nine Capital, Seedcamp and Taavet Hinrikus, co-founder of Wise, formerly known as TransferWise, also participated in the funding round. Eight Roads Partner, Alston Zecha, joins Juro’s board.
The platform enables legal counsel and their teams to manage contracts in a single web browser. Juro will use the new investment to expand into the US and Europe, and power the company’s executive recruitment drive.
“We started Juro in order to make legal contracts frictionless and accessible to everyone. Legacy processes using Word, PDFs and email slow things down not only for lawyers but for everyone who handles contracts,” said Richard Mabey, CEO and co-founder.
“In the last 12 months our customers have processed more than 250,000 contracts in Juro without leaving their browser. This has saved customers millions of hours of time and helped them to agree terms faster than ever.
“We are delighted to partner with Eight Roads as we scale up.”