Tangibly, a Seattle, Washington-based SaaS trade secret management platform, has announced the successful completion of its Seed round of funding.
The round was led by Madrona, with participation from Spike Ventures, Volo Ventures, Holt Ventures, MVP Ventures, Incisive Ventures, WS Investment Company (an affiliate of Wilson Sonsini Goodrich & Rosati), and DLA Piper.
Tangibly plans to use the funds to expand the capabilities of its recently launched AI-powered Patent X-Ray™. This tool enables both in-house legal teams and external counsel to swiftly identify potential trade secrets associated with their issued and published patents.
The next generation of Patent X-Ray, currently undergoing internal testing, will also aid in the patent drafting process. It will help define what information should be disclosed in the patent and what information should be safeguarded as a trade secret.
“Trade secrets are fast becoming the most important category of intellectual property assets, and the need for better enterprise tools to manage them is clear to global enterprises across industries,” said Tim Londergan, Tangibly’s founder and CEO. “We are thrilled to have such a high-quality group of investors helping us accelerate our product roadmap and expand our go-to-market initiatives.”
Company: Tangibly, Inc.
Raised: Undisclosed
Round: Seed Round
Funding Month: July 2023
Lead Investors: Madrona
Additional Investors: Spike Ventures, Volo Ventures, Holt Ventures, MVP Ventures, Incisive Ventures, WS Investment Company and DLA Piper
Company Website: https://www.tangibly.com/
Software Category: Trade Secret Management
About the Company: Tangibly is a trade secret management solution that enables users to secure access to valuable secrets while keeping a court-compliant record of everything. Its SaaS platform enables companies to implement best-in-class management of their trade secrets. Tangibly's platform provides integrated workflows for product and legal teams. Tangibly helps streamline and simplify legal requirements and implement best practices to establish company assets as legally protectable trade secrets. These best practices include cataloging assets, acknowledgment workflow, access management, tracking required legal agreements (NDAs, employment agreements, partnership agreements, etc.), as well as employee/partner education and training.
Source: https://www.businesswire.com/news/home/20230713984749/en/