SeedLegals closes $4M Series A, led by Index Ventures, to automate startup fundraisings
When SeedLegals launched in 2017 in the U.K., I’d say many of us thought, “why has that not been done before?” After all, two things have happened that make this an obvious idea for a startup: startup funding rounds are now so common that there is no reason large amounts of automation could not be done. If you can buy a divorce online, surely you can organise funding rounds?
The second trend is the sheer level of automation happening in legal software today. After all, we now have “Uber for Lawyers” (Lexoo, Linkilaw, Lawbite) and AI-driven legaltech (KIRA, Luminance, ThoughtRiver). (Eventually, we will have blockchain smart contracts do ALL the work, but that’s for another time…).
So it’s not surprising that today SeedLegals announces it has closed a $4 million Series A led by venture capital firm Index Ventures (London/SF/etc.) with participation from Kima Ventures (Paris/TelAviv), The Family (Paris) and existing investor Seedcamp (London).
SeedLegals says it now has 7,000 startups — capturing, it claims, 8% of all early-stage U.K. funding rounds — using its platform to manage the entire fundraising process and all related legal documents. The platform helps companies build and negotiate term sheets,