Legalese is a legal technology and financial technology start-ups from singapore. This Monday, the company announced that it has completed a new round of about $60 (about $418 thousand) angel round of financing, by the Vc firm Walden International lead investor, other angel investors with investment.
the company plans to use the funds to develop the first web program, and further increase the intensity of research and development of the law. The calculation of law is based on the computer science, the production, management and implementation of legal documents.
Legalese co-founder Huang Mengweng said in a media statement: after the completion of the financing, we will enter the countdown. The next year, our work is to become the capital gains, the smooth launch of products, strengthen our competitive advantage, that is, our core IP, it can play a supporting role in other technologies."
also said that if the Legalese’s earnings test is successful, it will help the company in the end of 2017 seed wheel financing.
prior to this, Legalese has received $8888 from String Labs funding from ISIF.asia to get a $22 thousand reward for innovation.
said that so far, its software has helped more than and 30 start-ups to complete paperwork.
JFDI is the first Southeast Asian record prices of the end of last year to the accelerator, training project. Legalese software is developed in this accelerator, after two years of the final official debut in 2015. In addition to Huang Mengweng, Legalese’s other two co founders, Ong Li and Alexis Natalie Chun, the former JFDI employees, the latter was a lawsuit lawyer.
Ong said: in the JFDI work that time, the idea of creating Legalese increasingly obvious. Later, we entered the peak period, in just a month to complete a dozen investment. Law firms are expensive, and we want to be able to do a lot of work in a software, but not found. So we decided to write a paragraph, after its popularity, we set up an independent enterprise – Legalese."
added that the company also said that they use their own products to help complete the financing.
in Silicon Valley has a word called eat your dog food, it is said that software developers use their own products. If a product, even developers themselves are not willing to use, then how to attract others?.