The startup has raised over 30 million dollars since it was founded.
Eight Roads led the round, as well as existing investors Union Square Venture, Point Nine Capital, Seedcamp and Taavet Hinrikus.
Juro has a partner on its board, Eight Roads partner, Alston Zecha.
The company says its annual recurring revenue has tripled. It says it has increased more than 5x, despite not revealing its valuation.
It is finally revealing the number of customers it has, with the likes of Deliveroo, Cazoo, Trustpilot and TheRealReal being used by 6,000 companies.
Richard Mabey says that they work with more than 20 scale-ups. We help these companies process high volumes of contracts. More traditional enterprises like Reach have adopted Juro, so we anticipate more demand during the year of 2022.
The startup has focused on disrupting the use of legacy tools like Word and PDFs for contracts, rather than simply creating a cloud-based work flow for moving files around.
Mabey is challenging the idea that contracts need to be static files. The contracts are brought out of Word and into a custom-built editor.
He says the editor is modular and integrates into a company's tech stack. 250,000 contracts were processed in this way last year and it can be magic for certain use cases.
In the same way that developers and designers use Figma to collaborate, in Juro you can process contracts from creation to signature without ever leaving your browser. We see our main competition as Microsoft Word.
The funding will be used for market expansion in the US and Europe, as well as for an executive hiring drive to support the scaling.
The startup has offices in London and Riga, as well as a growing remote hub.
Mabey wants to hire a VP of marketing and a VP of engineering.
He says that the core strength of Juro is in contract creation. We are the only platform that has a browser-native editor for contracts. Developing new integrations into this editor is one of the things we will do.
For customers, this means one unified experience for creating, approving, negotiating, signing and managing contracts.
Juro has an all-in-one platform that provides seamless integrations with clients' workflows. Juro is used by many teams at high-growth companies in the Eight Roads portfolio. It has the highest employee satisfaction score we have seen at a scaleup. We are excited to work with the Juro team.
Juro has a $5 million Series A.
Juro wants to take the hassle out of contracts.
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