Juro has announced a $5.25m Series A led by USV - so why should you care and what happens now? Juro CEO and co-founder Richard Mabey shares his thoughts.
Last week we announced our Series A round, led by New York-based Union Square Ventures, taking our funding to $8m.
On the back of lots of press coverage, it’s tempting for founders to view fundraising as success in itself. But fundraising is just one of a million things that needs to happen to help us execute on our ambitious vision for Juro.
This said, it’s a significant milestone for Juro and it means that we can do more to build the best possible product and help our customers get even more value from it. So what does our funding round mean for customers?
Executing on our mission
The mission of Juro has always been to make legal more human. We set out almost four years ago to change contracts from static, files-based documents that are hard to agree and hard to manage into dynamic, engaging agreements that can be swiftly agreed and easily managed.
Our vision and mission are unchanged. And USV as a partner has a formidable track record of working with product-led and customer-centric companies, like Carta, Kickstarter, Twilio and others. As John, our new Board member from USV put it: “We look for founders with products equipped to change an industry. We’re delighted to support Juro’s team in making their vision a reality.”
What kind of companies will we work with?
In the early days of Juro, we worked mostly with visionaries at fast-growing tech companies who felt the pain of rapidly increasing contract volumes and the pressure of hypergrowth. Companies like Habito, Curve, Envoy, Deliveroo and Skyscanner have all helped to shape what Juro can do today.
Increasingly we work with different kinds of companies across the globe, with customers now agreeing contracts in more than 50 countries. While these companies may not all be rocket-ship tech companies, they share with those early adopters the same pain points around contract management and the same willingness to radically improve legal processes.
How will our product improve?
The first priority of 2020 is to double down on product. The product/engineering team is set to triple in size through 2020, to enable us better to serve our customers with a solution that makes agreeing contracts faster than ever and gives unrivalled visibility into contract post-signature.
"We're looking for the best designers, engineers and developers that the Baltics have to offer"
Even in the last few months we have delivered some major upgrades - single sign-on, renewal reminders and a comprehensive analytics stack are all live, and our unique timeline feature gives users a real-time audit trail of activity on contracts:
If you’re an existing customer and would like to know more about current and future product releases, please do get in touch with me or Pavel. Stay tuned for a deeper dive into what we're building through 2020.
We’re looking for the best designers, engineers and developers that the Baltics have to offer, based in our Riga office, so get in touch if you want to find out more.
Building our commercial team
Our first London office was my kitchen. That didn't last long, and Warner Yard became our home. Having run out of desks, we’re now onto our third office, nearby in Farringdon - come say hi 👋
We’re also hiring into marketing, sales, customer success, legal engineering and operations. Keep an eye on our careers page. For starters, we're currently looking for a customer success manager, an account executive and a business development representative.
Fundraising is hard. Sometimes people (unkindly) think of fundraising as gas for the tank, and there’s some truth in this (although air-to-air refuelling is possibly a better analogy!). But we’ve always doubled down on finding the smartest people we can to help direct our strategy and keep us focused on what matters.
We’re delighted to have John at USV as a Board member and to continue to work with Rodrigo at PNC, Tom at Seedcamp, Paul Forster, Michael Pennington, Taavet Hinrikus and others to help bring our vision to life. We're excited to see what comes next.