Clara, the UK-based legaltech startup and Wamda portfolio company has raised investment from US-based The LegalTech Fund, which invests in companies transforming the world of law.
This latest bout of investment takes Clara’s seed funding to more than $3.5 million as the startup emerges from its beta phase.
Founded in 2018 by Patrick Rogers, Arthur Guest, Hannah McKinlay, Ahmed Arif, and Lee McMahon, Clara digitises and automates legal tasks for entrepreneurs, including setting up companies in different countries.
More than 1,200 startups have used Clara’s beta platform to guide them on legal best practices and save time and money on their legal processes.
London-based Clara, a legal OS providing an integrated set of self-service tools to help founders digitally form, manage and scale their startups, has today announced that it has secured investment from The LegalTech Fund as the platform emerges from its beta phase, taking its total seed funding to more than $3.5m.
Supporting a range of legal space disruptors across the world, The LegalTech Fund was drawn to Clara’s mission to help founders change the world by making the legal experience fundamentally more efficient through a fully integrated platform.
Zach Posner, Co-Founder & Managing Director of The LegalTech Fund noted:
“Even though Clara has just come out of beta, what they’ve built so far has helped thousands of founders navigate the complex world of startup law in a way that has not been done before. We’re excited about our investment in Clara – a company that we believe is building a category creating product.”
Patrick Rogers, CEO and Co-Founder of Clara, said of the investment:
“We’re thrilled to welcome The LegalTech Fund as an investor. Their team’s understanding of the legal space, relationships with key global players in the legal ecosystem and operational acumen make them an incredible partner for us – particularly in the context of our move into new jurisdictions later this year.”
A first of its kind legal OS, Clara aims to become an integral part of the software stack for startups around the world having already worked with accelerators like Techstars and 500 to help their cohorts form companies and organise their legals.
On Clara, founders can digitally form companies in different jurisdictions, generate and sign agreements, build cap tables and structure data rooms. Clara ensures that founders can navigate due diligence and funding rounds with a clean corporate structure and be prepared at every stage of their journey from starting up to scaling up.
As part of Clara’s free Start subscription founders can access many of the tools they need to get their startup off the ground. This includes education on key legal concepts, access to legal documents, the ability to create cap tables, as well as shareable data rooms and a health check to fill any critical gaps before speaking with investors.
Clara’s emergence from its beta phase brings improved features and functionality for the 1,200+ companies currently using it, including easy company formation in key jurisdictions through which VCs and accelerators typically invest. The platform includes improved cap table features and streamlined legal document automation. Clara will expand into new jurisdictions in the coming year and continue to release new and improved features to its users.