Offering an all-in-one contract automation platform that enables legal and business teams to agree and manage contracts in one place, London-based Juro has just raised €20 million and sees its market valuation increase 5-fold.
Eight Roads, the global venture capital fund which previously invested in Alibaba, Cazoo and Appsflyer, led the round, with participation from existing investors Union Square Ventures, Point Nine Capital, Seedcamp and Taavet Hinrikus, co-founder of Wise.
Founded in 2016 by former Freshfields lawyer Richard Mabey and Pavel Kovalevic, the platform provided a single unified workspace that enables clients to avoid a patchwork of online and offline tools and processes, expediting critical business processes.
In 2020, the company got a €4.4 million boost in part of its mission to make contracts more collaborative. At the same time, we reckoned the company was a promising one to watch, particularly inspired by the motto “making contracts more human”.
Richard Mabey, CEO and co-founder of Juro, said: “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. 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.”
Juro already has an international reach – it is used by 6000 companies across 85 countries, with clients such as Deliveroo, Cazoo, Trustpilot and TheRealReal. The young startup has offices in London and Riga as well as remote hubs in other locations, this new investment will be used to fuel further expansion into the US and Europe.
In addition, the funds will help to further develop the platform’s customer experience and power the company’s executive recruitment drive as it ramps up its go-to-market strategy.