Libryo, which helps companies understand the laws in their local jurisdictions, has closed a £1.35m funding round.
Future Energy Ventures served as the lead investor, with commitments also coming from the UK government’s Future Fund and Nextlaw Ventures.
Founded in 2016, the company hopes to create the world’s largest legal database to establish a global marketplace where companies can quickly and easily find legal content and professional services. The automated and cloud-based solution helps businesses know, understand and comply with regulatory requirements.
Its services include unique tracking capabilities and customised legal registers, collaboration tools, document storage and search capabilities. The platform is used by more than 400 customers and has over 15,000 users.
The company recently released the Libryo Assess service, a new module that help organisations gain visibility of their compliance status and risk levels across their operating sites.
Malcolm Gray, Libryo co-founder and CFO, said “Our positive customer feedback and strong partner support continue to give us confidence in what we are doing, and the strength to continue to make an impact. Together we will keep on having fun, making money, and doing something good as we help companies navigate an increasingly complex regulatory environment.”
Future Energy Ventures managing partner and co-founder Jan Lozek said, “In a constantly shifting regulatory landscape, Libryo’s unique compliance management software enables users to keep pace with their regulatory and compliance requirements as their companies expand and scale.
“We are proud to support the company in its next chapter of growth as it empowers compliance professionals to make faster, smarter decisions and focus on the business priorities that drive sustainability.”
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