Dubai: Clara – a London-headquartered legal tech startup that was born in Dubai, has raised $2 million in seed funding, the startup announced last week in a statement to local based media MENAbytes.
The investment came from Techstars (Clara was part of Techstars Dubai’s second cohort), 500 Startups, and five UAE-based investors including Wamda Capital, VentureSouq, Delta Partners, Shorooq Investment, and Dubai Angel Investors.
Founded last year by the leadership team of Support Legal (that happens to be one of the leading startup law firms of MENA) including Patrick Rogers, Lee McMahon, Hannah McKinaly, Ahmed Arif, and Arthur Guest who had previously led technology of different startups, Clara uses a hybrid model of SaaS platform and a law firm to make legal procedures easy for startups.
The yet-to-be-launched SaaS platform digitizes and automates different repetitive tasks that lawyers normally charge for (as the billing by law firms is typically done hourly) including drafting agreements, creation of cap tables, and educating founders on key legal topics.
Patrick Rogers, Co-Founder and CEO of Clara, in a statement, said, “The challenges associated with startup law globally require a unique blend of legal and technological expertise. Our world-class team of lawyers and technologists will create a new customer experience for startup law, which will empower founders, de-risk investors and provide massive savings on legal fees.”
The startup plans to use the investment to build its technology, design and content creation teams and to support international expansion across the key international jurisdictions through which venture capital is deployed globally.