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For companies, defending logos is commonly a prolonged and costly course of, particularly if they’ve a number of manufacturers. Digip digitizes a lot of the method, serving to its clients file logos by themselves as a substitute of going to legislation companies. The Stockholm-based legaltech startup introduced at the moment it has added $1.3 million to its seed spherical, bringing the whole to $3.4 million. The brand new funding was led by Industrifonden and Seed X, with participation from household places of work and angel traders.
Based in 2020, Digip now has 500 clients in 42 international locations, starting from startups to massive enterprises that make tons of of {dollars} in income. Digip at present makes about $500,000 in annual recurring income and that quantity is forecasted to develop 3x in the course of the 2022 fiscal yr. Over the past yr, Digip has additionally expanded its IP service into the USA and different worldwide markets.
Co-founder and CEO Viktor Johansson instructed TechCrunch that Digip was based after its group noticed that entrepreneurs are reluctant to make use of conventional legislation companies that invoice by the hour. To file logos, companies often ask a lawyer to conduct trademark searches. They’re billed per search, which provides up rapidly if a enterprise has a number of manufacturers they should trademark. Then they should pay for a lawyer to file trademark purposes. However the course of doesn’t finish there. Companies even have to watch their logos in markets the place they personal it, and that’s one other cost.
Digip combines all these steps into one on-line workflow. As an alternative of charging for various components of the method, its clients pay a flat month-to-month or yearly subscription payment, plus software charges charged by trademark places of work.
Digip’s group
Companies can use Digip to analysis logos and get on-demand recommendation from its group totally free. In the event that they develop into subscribers, they’ll then use Digip’s platform to handle their trademark purposes in 180 international locations. The platform allows this with a trademark warehouse that has up to date trademark information. Knowledge assortment and updates are automated as Digip enter new markets.
It additionally trains AI/ML algorithms for searches that cowl 100 languages and manages clients’ logos by studying and deciphering trademark information. This permits onboarding to be automated and makes Digip’s course of scalable.
Johansson mentioned Digip initially thought of providing its service to legislation companies, however determined to not since they’re gradual at adopting authorized tech. However Digip does have a world community of legal professionals that its clients can go to for assist.
Johansson mentioned that Digip’s largest markets are the UK, Nordic international locations and the European Union, and it’s seeing extra demand from the USA, Canada and Australia. Lots of its clients are venture-backed companies that run digital companies in sectors in sectors together with SaaS, deep tech, direct to shopper, life science, metaverse, blockchain and fintech.
“A cool factor with trademarking is that you simply decide up on early enterprise tendencies,” Johansson mentioned. “We’ve got been concerned in some fascinating initiatives with rising applied sciences that may hit the markets in coming years. This can be a actually enjoyable and thrilling a part of our setup.”
Johansson mentioned Digip’s closest competitors are nonetheless legislation companies, nevertheless it additionally considers legal professionals to be shut collaborators. “As a result of digitization of authorized has been gradual many firms are caught in legacy payments by the hour trademark options,” he mentioned. “Some legislation companies that rely considerably on trademark filings are our rivals, while different legislation companies that don’t do important enterprise by trademark filings see us as an excellent potential companion for them.”
Over the following few months, Digip will launch a number of new options. These embrace an open API that may let companions combine Digip’s know-how into their workflows. Johansson mentioned customers will see a considerably improved trademark search on Digip.com. The corporate can even develop into new markets over the following 12 months.
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