Tangibly – a SaaS trade secret management platform – recently announced the successful completion of its Seed round. This funding round was led by Madrona and included Spike Ventures, Volo Ventures, Holt Ventures, MVP Ventures, Incisive Ventures, WS Investment Company (an affiliate of Wilson Sonsini Goodrich & Rosati), and DLA Piper.
Trade secrets are a critical component of a company’s intellectual property portfolio that can be protected if identified, recorded, and embedded in company processes.
Tangibly will use the funding to expand its recently launched AI-powered Patent X-Ray, which enables in-house legal teams and outside counsel to rapidly identify potential trade secrets associated with their issued and published patents. And the next generation of Patent X-Ray, which is currently in internal testing, can be used in the patent drafting process. This will help better define what information to disclose in the patent and what information to protect as a trade secret.
Reducing theft and enforcing trade secret laws after a misappropriation requires proactive documentation, tracking, and education, which is daunting for most companies. Tangibly’s platform provides integrated workflows for product and legal teams.
KEY QUOTES:
“Trade secrets are fast becoming the most important category of intellectual property assets, and the need for better enterprise tools to manage them is clear to global enterprises across industries. We are thrilled to have such a high-quality group of investors helping us accelerate our product roadmap and expand our go-to-market initiatives.”
— Tim Londergan, Tangibly’s founder and CEO
“The Tangibly team has been looking around a very interesting corner since 2021 and have anticipated a critical and rapidly growing need in the area of trade secret management. AI can be applied to so many industries, the power comes when experts and internal enterprise data come together. We are excited to back this talented team that offers global enterprises a valuable platform for innovation intelligence across their Intellectual Property portfolio.”
— Aseem Datar, Madrona Partner and Tangibly board member
