Contract Automation Platform Company Juro Raises $23 Million

By Annie Baker ● Jan 19, 2022
  • Juro recently announced it raised $23 million in Series B funding. These are the details.

Contract automation platform company Juro recently announced it has raised $23 million in Series B funding, increasing its market valuation by more than 5 times. Eight Roads led the funding round. And Juro is now used in over 85 countries and by 6,000 companies including Deliveroo, Cazoo, Trustpilot and TheRealReal.

The 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. And Eight Roads Partner Alston Zecha joined Juro’s board.

The Juro platform enables legal counsel and their teams to manage contracts in a single web browser. And 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 plans to use the new investment to expand into the US and Europe, further developing the platform’s customer experience and power the company’s executive recruitment drive as it ramps up its go-to market strategy.

The $23.25 million Series B raise follows a $5.25 imllion Series A led by Union Square Ventures (USV) – early backers of Twitter, Coinbase, Twilio and Kickstarter. USV was joined in the Series A round by existing investors Point Nine Capital, Seedcamp and Taavet Hinrikus. This investment round takes Juro’s total funds raised to $31.5 million.

KEY QUOTES:

“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.”

— Richard Mabey, CEO and co-founder of Juro

“Until Juro, there hasn’t been an all-in-one platform which automates 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.”

— Alston Zecha of Eight Roads and now a Director at Juro