# Legit Patents

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/legit-patents

- Industry: Software
- Headquarters: Cambridge, US
- Website: www.legit.ai
- Total disclosed funding: $2.6M
- Latest round: Seed (Apr 4, 2018)
- Investors on record: 8

## About

Legit Patents is a technology company focused on providing innovative solutions for patent management, enhancing operational efficiency for businesses in various sectors.Founded in 2016 and headquartered in Cambridge, US, Legit Patents specializes in patent management solutions. The firm was established by Ernest Gunaseelan, who has a history in technology ventures. In April 2018, the company raised USD 2.6 mn in SEED funding led by Eniac Ventures, with participation from Cantos Ventures, Clocktower Technology Ventures, Elementum Ventures, Expansion Venture Capital, and Max Ventures. This funding represented the total amount raised by the company, with two deals recorded to date, the most recent being in April 2018.Legit Patents offers a suite of products designed to improve patent management processes, enhancing user experience and operational efficiency. Their solutions cater to a diverse client base, including small businesses to large enterprises across technology, healthcare, and consumer services sectors. The products are available in key markets such as North America, Europe, and select regions in Asia, leveraging technology to streamline processes and improve client engagement.Legit Patents generates revenue through a combination of subscription and direct sales models. Clients engage via long-term subscription agreements for access to the company's flagship products, which are tailored to enhance operational performance. Pricing plans accommodate various client needs, from smaller businesses to larger enterprises, and partnerships with retailers and wholesalers expand their distribution channels, fostering client loyalty and diversified revenue streams.Legit Patents plans to utilize its recent SEED funding of USD 2.6 mn to scale its sales and research teams. The company is also focused on developing new products aimed at improving patent management processes, with specific launch dates yet to be determined. Additionally, Legit Patents intends to expand into new geographic markets, although specific regions are not currently outlined. The recent funding will support these growth initiatives and enhance the company's market presence.

## Funding rounds

- Seed, Apr 4, 2018, $2.6M — Eniac Ventures, Expansion Venture Capital, Clocktower Technology Ventures, Elementum Ventures, Cantos Ventures, Max Ventures
- Seed, Nov 22, 2016 — Seedcamp, Fantastic Ventures

## Investors

- Seedcamp (https://capitalatlas.ai/funds/seedcamp) — Seed
- Fantastic Ventures — Seed
- Eniac Ventures (https://capitalatlas.ai/funds/eniac-ventures) — Seed
- Expansion Venture Capital (https://capitalatlas.ai/funds/expansion-venture-capital) — Seed
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed
- Elementum Ventures (https://capitalatlas.ai/funds/elementum-ventures) — Seed
- Cantos Ventures (https://capitalatlas.ai/funds/cantos-ventures) — Seed
- Max Ventures (https://capitalatlas.ai/funds/max-ventures) — Seed