SA Legal-Tech Startup Secures $US 1 Million For Global Expansion
Investors include Seedcamp and Nextlaw Labs
Cape Town- and London-based Libryo recently closed a $US 1million seed funding round from a range of global Institutional investors.
The funding round includes previous investors including Seedcamp and Nextlaw Lab as well as Innogy UK Innovation Hub, Force Over Mass and various angel investors.
The Libryo platform solves the problem of regulatory complexity in organisations. It was co-founded in 2016 by three South African entrepreneurs, Peter Flynn, Garth Watson and Malcolm Gray.
Libryo offers its users (who are often not legally trained), intuitive search, real-time updates and truly site and context specific regulatory information, anywhere, at any time.
"We're already seeing a huge appetite for our service across Africa, particularly in the legal domains of environment and occupational health and safety. We’re at a key moment in our business as we look to expand our offering even further across the world and into other legal domains," writes Peter Flynn in a blog post.
Libryo has expanded from a global reach of five to 50 countries (45 across Sub-Saharan Africa). The USD $1 million seed round will enable further expansion across four continents; Africa, Europe, North America and Australia - in the next 18 to 24 months. A critical part of this growth will involve strategic hires across product, operations and customer relations.