Juro raises $5m Series A from USV to make contracts more collaborative
- Juro has raised a $5m Series A round led by Union Square Ventures (USV)
- The New York-based fund were early backers of Twitter, Twilio and Kickstarter
- Juro is a contract management platform with customers operating in 50 countries
- The investment will fuel Juro’s growth from its London and Riga offices
For more information or to request an interview, contact [email protected].
Juro, the end-to-end contract management platform, has raised a $5m Series A led by New York-based Union Square Ventures (USV) – the backers of Twitter, Twilio, Etsy and Kickstarter – in a rare US-to-Europe investment in legal tech.
USV was joined in the round by existing investors including Point Nine Capital, Seedcamp, Taavet Hinrikus (co-founder of TransferWise) and Paul Forster (co-founder of Indeed). The Series A takes Juro’s total funds raised to $8m.
Juro (www.juro.com) transforms legal contracts from static files into dynamic, modular agreements that integrate seamlessly with core business processes like Sales and HR workflows.
With a helping hand from machine learning, Juro helps businesses agree contracts up to 96% faster than using manual processes and gives deep insight into contracts post-signature.
The investment caps a strong year for Juro, in which FT Intelligent Business named Juro a global innovator in contracting, and CEO Richard Mabey as one of the top ten legal business technologists globally.
Juro was founded in 2016 by former Freshfields lawyer Richard Mabey and Pavel Kovalevich. Juro has offices in London and Riga, and has processed more than 50,000 contracts for customers like Deliveroo, Skyscanner, Envoy, Babylon Health and Reach.
Juro will use the funds to double-down on its data proposition, triple the size of its product team and continue to expand its growing customer base in the EU and US. John Buttrick, partner at USV, will join the Board.
Richard Mabey, CEO of Juro, 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.”
John Buttrick, Partner at Union Square Ventures, 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.”
Juro was represented in the transaction by Wilson Sonsini Goodrich & Rosati and Taylor Wessing. Union Square Ventures was represented by Latham & Watkins and Gunderson Dettmer.
Find out more about contract management software.
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For more information, or to request an interview, please contact:
Director of Content
[email protected] / +447738236061 / @getjuro
NOTES FOR EDITORS
Juro is an end-to-end contract management platform that helps businesses agree terms faster, while giving deep insight into contract data.
Juro was founded in 2016 by Richard Mabey and Pavel Kovalevich, and is backed by Union Square Ventures, Point Nine Capital, Seedcamp and the cofounders of TransferWise, Gumtree and Indeed.com. Juro has offices in London and Riga. Its customer base covers more than 50 countries and includes Deliveroo, Reach plc, Envoy and Skyscanner.
(www.juro.com | @getjuro)
About Union Square Ventures
Union Square Ventures (USV) was founded in 2003 by Brad Burnham and Fred Wilson. Since then, USV has invested in the likes of Twitter, Zynga, Etsy, FundingCircle, Tumblr, Cloudflare, MongoDB, Kickstarter and Twillio. In 2019, USV raised a $200m fund to invest in early-stage businesses in North America and Europe.
(www.usv.com | @usv)
About Point Nine Capital
Since its founding in 2011, Point Nine has made seed investments in B2B SaaS startups such as Algolia, Automile, Contentful, Loom, and Typeform, as well as online marketplaces like Brainly, DocPlanner, Laserhub, and xChange. Before starting Point Nine, the firm’s founding partners, Pawel Chudzinski and Christoph Janz, were among the earliest backers of companies like Delivery Hero, Westwing, and Zendesk.(www.pointninecap.com | @pointninecap)
Seedcamp is Europe’s seed fund, identifying and investing early in world-class founders attacking large, global markets and solving real problems using technology. The Seedcamp Nation includes over 330 startups building breakout businesses that change the way people live, interact and buy and includes European unicorns: TransferWise, Revolut and UiPath along with fast-growing businesses such as wefox, Pointy, Viz.ai and Trussle.(www.seedcamp.com | @seedcamp)