When We Talks

SingleFile, a legal tech startup that helps companies manage state filings, lands $3.2M – GeekWire


Legal tech startup SingleFile raised an additional $3.2 million to fuel growth of its technology that acts as a registered agent and helps companies file their annual reports with states.

“Government compliance is unavoidable and therefore recession-proof,” said CEO Aaron Finn. He said the company has grown revenue by 3X in the past 18 months.

Law firms such as Wilson Sonsini, Fenwick and Gunderson Dettmer use SingleFile to file formation documents with secretary of state offices. For example, when a new business is created, a Certificate of Incorporation (also known as a charter) is filed. Once the document has been accepted and processed, the legal entity is created.

A company needs to file reports in each jurisdiction where it is registered and avoid missing deadlines for such filings. Failure to file in a timely manner can result in the company falling out of good standing with the state and, if not corrected, the company can lose its authority to conduct business or become dissolved altogether.

Aaron Finn. (LinkedIn Photo)

SingleFile also works with other verticals such as venture capital, private equity and real estate. Customers include Techstars, AngelList, High Alpha Innovation and Pacific Current Partners. 

Finn, the founder and former CEO of AdReady, joined as CEO in 2021. The company was founded by former ProQuest exec Sean Flynn, who is currently chief growth officer.

SingleFile is a technology partner for Wilson Sonsini Goodrich & Rosati’s startup platform, Neuron. The national law firm is also an investor and has backed other Seattle legal tech startups including Tangibly, which helps companies protect their intellectual property, and Lexion, which helps lawyers digest contracts using artificial intelligence.

SingleFile, which has 10 full-time employees, spun out of Seattle startup studio Pioneer Square Labs. It raised $3.3 million in August 2019, then tacked on an additional $2.1 million in August 2021. Total funding to date is $8.6 million. 

The round was led by its existing investors Foundry and PSL Ventures, the venture arm of Pioneer Square Labs. SingleFile’s largest law firm clients also participated.


Source link

Related posts

Still experimenting, not yet mandating return to office – GeekWire

Effie Weber

Amazon and Bandai Namco announce online fantasy game ‘Blue Protocol’ – GeekWire

Effie Weber

Microsoft shares new tool for estimating quantum computing needs

Effie Weber