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Total amount raised
$11 Million
Latest funding date
10/01/2021
Location
Vakilsearch has successfully raised funds over four rounds, with the latest being a Series B round. The platform offers a comprehensive suite of legal, tax, and compliance services designed to assist businesses and individuals.
What Is Vakilsearch?
Vakilsearch, founded in 2010, is a leading legal services provider based in Chennai, Tamil Nadu, India. The company operates an online platform offering a wide range of services, including legal consultations, business registrations, tax and compliance services, and trademark and IP services.
With an employee count ranging from 11 to 50, Vakilsearch has served over 5 lakh businesses and registered over 1 lakh companies. The company is currently in the Series B funding stage and has raised funds over four rounds, backed by investors such as In.Corp Advisory and Kalaari Capital.
How Much Funding Has Vakilsearch Raised?
- Series A (2015-03-03)
- Amount Raised: USD 969,000
- Date: March 2015
- Lead Investors: Kalaari Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the early-stage growth and development of Vakilsearch.
- Non-Equity Assistance (2015-12-09)
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional support for operational and strategic initiatives.
- Series A (2020-05-21)
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand and enhance the startup's offerings.
- Series B (2021-10-28)
- Amount Raised: USD 10,000,000
- Date: October 2021
- Lead Investors: In.Corp Advisory
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate technology and product development, enhance marketing, sales, and talent acquisition, and transition to a client-based advisory platform.
Total Amount Raised: USD 10,969,000. Current Valuation: Not publicly disclosed.
Key Investors
- InCorp Advisory
- Details: InCorp Advisory is the Indian arm of TA Associates-backed, Singapore-headquartered InCorp Global. The company specializes in providing tech-based incorporation, corporate secretarial & compliance, accounting, taxation, FEMA, and investment banking services.
- Investment Focus Areas: Incorporation, corporate secretarial & compliance, accounting, taxation, investment banking.
- Notable Investments: Vakilsearch.
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm that invests in early-stage, technology-oriented companies in India. It was an early investor in Vakilsearch, investing around $2 million in 2015.
- Investment Focus Areas: Technology startups, early-stage companies, innovation-driven businesses.
- Notable Investments: Dream11, Cure.fit, Urban Ladder.
- Sujeet Kumar
- Details: Sujeet Kumar is the Co-founder of Udaan, a B2B e-commerce platform. He invested an undisclosed sum in Vakilsearch in 2020.
- Investment Focus Areas: B2B e-commerce, technology startups.
- Notable Investments: Vakilsearch.
What's Next for Vakilsearch?
Vakilsearch stands at the cusp of significant growth, driven by a $10 million investment from InCorp India. This funding will accelerate tech and product development, enhance marketing, sales, and talent acquisition, and transition the company to a client-based advisory platform. The strategic partnership with InCorp India opens doors for geographical expansion and leveraging a large pool of legal, taxation, and compliance professionals.
Future fundraising opportunities appear promising as Vakilsearch continues to innovate and expand its service offerings. The increasing demand for compliance tech platforms and the shift towards client-based advisory services position Vakilsearch well for attracting additional investments. However, the company must navigate challenges such as integrating new technologies, managing competition, and ensuring seamless collaboration with InCorp India's operations.
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