Despite recent record-setting IP expenditures, US enterprises have wasted over $1 trillion annually by failing to monetize their IP assets. And ScaleIP (formerly LicenseLead) announced a $1.5 million pre-seed financing to accelerate its pioneering IP business intelligence solution. This funding round was led by the Greater Colorado Venture Fund, with participation from Tunitas Venture, Comeback Capital, Community Access Fund, and Seed Round Capital. This funding round will accelerate ScaleIP’s ability to help more IP teams monetize their under-valued patents.
The company was born in response to conventional patent analytics tools, which often fail to reveal viable commercial partnerships. And by utilizing intelligence with proprietary IP transaction data, ScaleIP is helping enterprises, universities, labs, and hospitals identify high-intent target companies to monetize underutilized patents. Over 130 IP dealmakers are utilizing ScaleIP for several reasons:
- Licensing patents
- Selling patents
- Deciding whether to keep or abandon a patent.
- Seeking collaborators or partnerships.
- Determining their patent’s market value.
KEY QUOTES:
“The IP landscape is cluttered with underutilized patents. A surge in IP filings and record-setting corporate IP expenditures has pushed enterprises into rapidly adopting new monetization strategies. By harnessing transaction data, ScaleIP helps IP teams save labor time, gain new revenue streams, and support patent decision-making by identifying and engaging with the most likely IP partners.”
- CEO and Co-founder Mark Leonard
“Data is the gold in this new AI revolution. In any industry that is hindered by fragmented data, there is opportunity. ScaleIP is at the forefront of unlocking new opportunities in this overlooked industry.”
- Cory Finney of the Greater Colorado Venture Fund
