Legal platform SeedLegals has closed a $4 million Series A funding round.
The firm aims to make funding for start-ups faster and cheaper than other legal dervices, and plans to use the funding to accelerate international expansion.
The fund was lead by venture capital firm Index Ventures with participation from Kima Ventures, The Family and existing investor Seedcamp.
Established in 2017, the firm has taken 7,000 start-ups on board and has introduced two ways for companies to raise funding, SeedFAST and Instant Investment, which enable start-ups to top up investment between funding rounds
“Our focus is on helping to simplify fundraising, and we’ve had an amazing response from start-ups who find the whole process quite painful,” said Anthony Rose, co-founder and CEO at SeedLegals.
“We’ve removed the complexity, unnecessary middlemen, standardised and automated the processes, and that has really resonated with both founders and investors.
“However, we believe fundraising is just the start. The same approach can be applied to many other legal processes through the journey of a business.
“The goal of SeedLegals is to empower all parties with data and a modern technology platform, letting them focus on building the business and serving their customers.”
Hannah Seal from Index Ventures who joins the board with this round added: “SeedLegals is making the complex process of fundraising straightforward for everyone involved.
“We closed this round on SeedLegals and have been impressed with the speed and ease of use. For startups who spend thousands on legal fees on agreements that vary little from company to company, this is an absolute no-brainer.
“The ambition is to expand the same model to other areas of business, helping startups retain legal budget for strategic work rather than administrative execution.”
SeedLegals was created by serial entrepreneur Anthony Rose, known in the tech industry for his work launching BBC, and VC and angel investor Laurent Laffy, whose portfolio includes consumer brands such as Graze and Secret Escapes.