Elevation Capital led a $4.7 million funding round for the online dispute resolution (ODR) platform Presolv360, which also included participation from other angel investors and its current investor MGA Ventures.
In February 2022, the Mumbai-based business raised $1.08 million from Fine Fragrances and other investors in a seed funding round.
According to a press release from Presolv360, the money raised will be used to enhance its legal-tech infrastructure and diversify into other dispute resolution methods.
Presolv360 is an online dispute resolution (ODR) platform that provides technology-driven arbitration and mediation solutions. It was co-founded in 2017 by Bhaven Shah, Namitha Shah, and Aman Sanghavi. It uses artificial intelligence (AI) and cutting-edge modules to expedite dispute resolution with the goal of making legal procedures quicker, less expensive, and more accessible. Top judges and government agencies support the platform, which links users with attorneys and offers agreement review services.
“What we intend to do with these funds is to accelerate market expansion. We currently do arbitration and mediation; we want to replicate these systems for other dispute workflows as well,” said Bhaven Tarunkumar Shah, co-founder of Presolv360.
Presolv360 claims that it primarily collaborates with financial services providers like banks and fintech firms. Jupitice, Webnyay, Cadr.in, and Sama are the other prominent players in this market.
