Digip digitizes the method of making use of for emblems

For companies, defending emblems 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 prospects file emblems by themselves as an alternative of going to legislation corporations. The Stockholm-based legaltech startup introduced in the present day it has added $1.3 million to its seed spherical, bringing the overall to $3.4 million. The new funding was led by Industrifonden and Seed X, with participation from household places of work and angel traders.

Founded in 2020, Digip now has 500 prospects in 42 international locations, starting from startups to massive enterprises that make tons of of {dollars} in income. Digip at the moment makes about $500,000 in annual recurring income and that quantity is forecasted to develop 3x in the course of the 2022 fiscal 12 months. Over the final 12 months, Digip has additionally expanded its IP service into the United States and different worldwide markets.

Co-founder and CEO Viktor Johansson informed Thealike that Digip was based after its staff noticed that entrepreneurs are reluctant to make use of conventional legislation corporations that invoice by the hour. To file emblems, companies often ask a lawyer to conduct trademark searches. They are 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 functions. But the method doesn’t finish there. Businesses even have to watch their emblems in markets the place they personal it, and that’s one other cost.

Digip combines all these steps into one on-line workflow. Instead of charging for various components of the method, its prospects pay a flat month-to-month or yearly subscription payment, plus software charges charged by trademark places of work.

Businesses can use Digip to analysis emblems and get on-demand recommendation from its staff at no cost. If they change into subscribers, they will then use Digip’s platform to handle their trademark functions in 180 international locations. The platform permits this with a trademark warehouse that has up to date trademark information. Data assortment and updates are automated as Digip enter new markets.

It additionally trains AI/ML algorithms for searches that cowl 100 languages and manages prospects’ emblems by studying and deciphering trademark information. This permits onboarding to be automated and makes Digip’s course of scalable.

Johansson stated Digip initially thought of providing its service to legislation corporations, however determined to not since they’re sluggish at adopting authorized tech. But Digip does have a world community of legal professionals that its prospects can go to for assist.

Johansson stated that Digip’s largest markets are the United Kingdom, Nordic international locations and the European Union, and it’s seeing extra demand from the United States, Canada and Australia. Many of its prospects are venture-backed companies that run digital companies in sectors in sectors together with SaaS, deep tech, direct to client, life science, metaverse, blockchain and fintech.

“A cool thing with trademarking is that you pick up on early business trends,” Johansson stated. “We have been involved in some interesting projects with emerging technologies that will hit the markets in coming years. This is a really fun and exciting part of our setup.”

Johansson stated Digip’s closest competitors are nonetheless legislation corporations, but it surely additionally considers legal professionals to be shut collaborators. “Because digitization of legal has been slow many companies are stuck in legacy bills by the hour trademark solutions,” he stated. “Some law firms that rely significantly on trademark filings are our competitors, whilst other law firms that do not do significant business through trademark filings see us as a great potential partner 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 expertise into their workflows. Johansson stated customers will see a considerably improved trademark search on Digip.com. The firm can even broaden into new markets over the following 12 months.