London-based Juro, an end-to-end contract workflow tool designed for the modern business, announced on Monday that it has secured $23M (approx €20.15M) in its Series B round of funding. In January 2020, the company had raised $5M in its Series A round.
The current round was led by London’s venture capital firm Eight Roads. Existing investors Union Square Ventures, Point Nine Capital, Seedcamp, and Taavet Hinrikus also invested in the round.
Alston Zecha, partner at Eight Roads and now Director at Juro, says, “Until Juro, there hasn’t been an all-in-one platform which automates contracts and provides frictionless integrations with clients’ workflows. It has market-leading customer satisfaction scores plus the highest employee satisfaction score we’ve seen at a scaleup.”
All-in-one contract automation platform
Juro was founded in 2016 by former Freshfields lawyer Richard Mabey, and Pavel Kovalevich. It is an all-in-one contract automation platform that enables legal counsel and their teams to manage contracts on a single web browser.
Through its single platform, Juro enables clients to avoid a patchwork of online and offline tools and processes, expediting critical business processes. The company’s services are currently used in over 85 countries by 6,000 companies including Deliveroo, Cazoo, Trustpilot, and TheRealReal.
The proceeds from this round will help the company to expand into the US and Europe, further develop its platform’s customer experience, and increase the company’s executive recruitments as it ramps up its go-to-market strategy.
“We plan more than 80 new hires for 2022, including executive leadership,” the company mentions in a statement.
Richard Mabey says, “With this investment, we have more fuel to challenge the notion that contracts must be agreed only via legacy technology and email. We’re seeing mass adoption of our all-in-one platform from fast-growth tech companies who recognise Juro as key to expediting contracts at scale. Together they have processed more than 250,000 contracts in this way in the last 12 months alone. We’re delighted to partner with Eight Roads as we scale during the years ahead.”