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Prison tech startup Juro raises $23m for US and Ecu enlargement

London-based contract automation platform Juro has raised $23m (£16.9m) in a Collection B investment spherical. The investment was once led by means of 8 Roads, an international undertaking capital fund that has up to now invested in Alibaba, Cazoo and Appsflyer.

Juro didn’t expose its present valuation however claims it has greater over fivefold following the elevate. The startup mentioned it’ll use the capital injection to increase its industry into the United States and Europe.

Current traders Union Sq. Ventures, Level 9 Capital and Seedcamp equipped additional finances to the Collection B spherical. Smart co-founder Taavet Hinrikus additionally participated within the investment spherical.

Juro supplies an “all-in-one” contract automation platform for prison counselling. Its era brings an organization’s prison paperwork and contracts right into a unmarried internet browser the place workforce can create, approve, signal and arrange contracts. The corporate says it supplies an alternative choice to having more than one prison packages.

The corporate is lately working in over 85 international locations and claims to have over 6,000 firms as its purchasers. A few of its shoppers come with meals supply app Deliveroo, on-line automobile market Cazoo, assessment website online Trustpilot and store TheRealReal.

Juro will use the investment to expand its platform and reinforce the person revel in. The prison tech startup will even ramp up hiring because it hurries up its cross to marketplace technique. The startup lately has workplaces in London, UK, and Riga, Latvia, at the side of a far off hub. It’s hiring in all places.

“We began Juro so as to make prison contracts frictionless and available to everybody,” mentioned Richard Mabey, CEO and co-founder of Juro. “Within the ultimate three hundred and sixty five days our shoppers have processed greater than 250,000 contracts in Juro, with out leaving their browser. This has stored shoppers tens of millions of hours of time and helped them to agree phrases quicker than ever. We’re thrilled to spouse with 8 Roads as we scale up.”

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The newest investment spherical for the prison tech startup comes after its $5.25m Collection A spherical in 2020, which was once led by means of Union Sq. Ventures (USV). With the brand new funding, its general finances raised so far are as much as $31.5m.