Legal tech platform Oddr has raised $2 million in a seed round led by Saama Capital and Twin Ventures. The round also saw participation from angel investors in the US, Singapore and Germany.
Funds raised will be used to build the flagship product, an AI-powered invoice-to-cash platform, for professional services (law firms, accounting firms, consulting firms and financial services firms). The investment will further be used for client acquisition to scale the business and hiring for achieving growth targets.
“We are aiming to solve a big problem for the professional services sector globally. Invoice to Cash process in professional services firms today is manual, fragmented, and cumbersome resulting in high Days Sales Outstanding (DSO), high write-offs and painfully high operating overheads. This space is ripe for disruption through innovation,” said Milan Bobde, co-founder and CEO of Oddr.
“Oddr is the first industry cloud platform that unifies Billing, Collections and Payments in a single platform. Oddr helps firms streamline the invoice to cash processes through AI, automation and data-driven approach,” he added.
Oddr is currently in a team expansion mode in India and has also announced senior key hire, Eric Newman, as Chief Architect, the firm said in a statement. The company aims to touch an ARR of $1 million in the next 18 to 24 months as it enters international markets.
Oddr, which is based in Silicon Valley and India, is planning to launch its services in North America, the UK and Australian market along with setting up an R&D centre in India.
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