Juro Raises $23m in Series B Funding

Juro, the contract automation platform, has raised $23m in Series B funding, boosting its market valuation by more than five times, the London-based company announced Monday (Jan. 17).

The company said it provides an automated all-in-one contract platform that allows attorneys and law firms to manage contracts in a single web browser and avoid a patchwork of on and offline tools to expedite key business processes.

The funding was led by Eight Roads, the global venture capital firm managing $8 billion of assets. Existing investors Point Nine Capital, Union Square Ventures, Seedcamp and Taavet Hinrikus, co-founder of Wise, formerly known as TransferWise, also participated in the financing round.

Juro said it will use the proceeds to expand into the United States and Europe and improve the platform’s customer experience.

“We started Juro in order to make legal contracts frictionless and accessible to everyone,” said Richard Mabey, CEO and co-founder of Juro, in a statement.

“In the last 12 months our customers have processed more than 250,000 contracts … without leaving their browser.”

In a recent interview with PYMNTS, Plastiq Chief Financial Officer Amir Jafari said automation is key to ensuring that small- and medium-sized businesses find new ways to innovate and thrive.

Read more: Small Businesses Turn to Payments Tech to Address Persistent Problems

The San Francisco-based company provides a service that lets consumers and businesses use debit or credit cards to pay vendors that don’t otherwise accept those payment methods.

Many SMBs may have come into the new year expecting to avoid wrestling with the same concerns they faced last year.

But as Jafari told PYMNTS, “they are really going to need to pick things back up,” particularly when it comes to digitizing back offices and optimizing cash flow management.”

That’s especially true when it comes to payments technology, which Jafari said “touches the lifeblood and the lifelines of every single business. No matter how you want to spin it, money matters.”