Juro Raises $23m in Series B Funding
Juro, the contract automation platform, has raised $23m 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.
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.
Juro (www.juro.com) is an all-in-one contract automation platform enabling legal counsel and their teams to manage contracts in a single web browser. By providing a single unified workspace, Juro enables clients to avoid a patchwork of online and offline tools and processes, expediting critical business processes.
Juro will use the new investment to expand into the US and Europe, further develop the platform's customer experience and power the company's executive recruitment drive as it ramps up its go-to market strategy. Juro currently has offices in London and Riga and a growing remote hub, and is hiring in all locations.
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. We are delighted to partner with Eight Roads as we scale up."
Alston Zecha of Eight Roads, and now a Director at Juro, added:
"Until Juro, there hasn't been an all-in-one platform which automate contracts and provides frictionless integrations with clients' workflows. Juro is used by legal, sales, HR and other teams at some of Europe's best high-growth companies including many in Eight Roads' portfolio. It has market-leading customer satisfaction scores plus the highest employee satisfaction score we've seen at a scaleup. We are thrilled to partner with Richard, Pavel and the Juro team."
The $23.25m (USD) Series B Raise follows a $5.25m Series A led by Union Square Ventures (USV) - early backers of Twitter, Coinbase, Twilio and Kickstarter. USV was joined in the Series A by existing investors Point Nine Capital, Seedcamp and Taavet Hinrikus.
The investment round takes Juro's total funds raised to $31.5m.
Juro is an all-in-one contract automation platform platform that enables legal and business teams to agree and manage contracts in one place.
Juro was founded in 2016 by former Freshfields lawyer Richard Mabey and Pavel Kovalevich, and is backed by Eight Roads, Union Square Ventures, Point Nine Capital, Seedcamp and the founders of TransferWise, Gumtree and Indeed.com. Juro has offices in London and Riga as well as remote hubs in other countries. Its customer base covers more than 85 countries and includes Deliveroo, Cazoo, Trustpilot, Reach plc, TheRealReal and QuantumScape.
About Eight Roads
Eight Roads Ventures is a global venture capital firm managing $8bn of assets across offices in the UK, China, India, Japan, and the US. Together with its associated funds, including its US sister fund F-Prime Capital, its 50-year history of investing includes partnerships with over 300 companies such as Alibaba, AppsFlyer, BlackDuck, Cazoo, Chewy, Devoted Health, Flywire, Fireblocks, Funnel.io, Gloat, Hibob, Icertis, Made.com, Neo4j, Spendesk, Paidy, Ping Identity, Pony.ai, Toast, Wallapop, WuXi PharmaTech.
(www.eightroads.com | @8roadsventures)
About Union Square Ventures
Union Square Ventures is a thesis-driven venture capital firm based in New York City. USV backs trusted brands that broaden access to knowledge, capital, and well-being by leveraging networks, platforms, and protocols. Since its founding in 2004, USV has backed companies such as Twitter, Etsy, Lending Club, Duolingo, Coinbase and Cloudflare.
(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 400 startups building breakout businesses that change the way people live, interact and buy and includes publicly listed UiPath, Wise and unicorns Revolut, Hopin, Sorare, Pleo, and wefox along with fast-growing businesses such as Grover, Viz.ai, and Ezra.
(www.seedcamp.com | @seedcamp)
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