European Legal Technology Startup, TrademarkNow, Announces Continued Expansion As 2014 Customer Growth Rate Reaches 167 Percent
TrademarkNow®, a Helsinki-based legal technology startup, charted tremendous growth as a company in 2014 including securing Series A financing, customer growth of 167 percent, the launch of their NameWatch product, and expanding into the U.S. legal technology market.
Since the company's founding in 2012, TrademarkNow has fulfilled an unmet need in the trademark management space felt by in-house enterprise legal teams, law firms and branding agencies around the world. TrademarkNow's customer growth increased 167 percent in 2014, and new clients signed in 2014 included Carlsberg Group and Design Bridge, who joined the strong base of existing TrademarkNow clients, who include gaming giant Rovio and top-ten pharmaceutical company F. Ho
"Trademarking in the Life Sciences industry is complex and takes a long time with both legal and regulatory components, so we're always open to new, innovative solutions that can add efficiency to the process" said Tapio Blanc, Deputy Head of Trademarks Department, F. Hoffmann-La Roche AG. "The instant search results, combined with the ease-of-use and simplicity of the platform, save us time and money, making TrademarkNow a very valuable part of our trademarking process."
With numerous clients using their platform on a daily basis, TrademarkNow secured $3.5 million in Series A funding in May 2014 to invest in strengthening the company's global coverage and presence. Balderton Capital, one of the largest venture capital firms in Europe, led the company's funding.
In October, TrademarkNow launched NameWatch, its second product developed for the trademark law marketplace. NameWatch is an automated trademark watch solution that goes well beyond rote searches and uses powerful algorithms and artificial intelligence to analyze important activity with a company's own trademark portfolio as well as competitors' portfolios and organizes findings in a clear, relevant and prioritized manner. NameWatch joins NameCheck TrademarkNow's trademark search product that provides high-quality, comprehensive search results in a matter of seconds.
TrademarkNow also announced the company's entree into the U.S. market. The company opened its first U.S. office in New York City in the heart of Silicon Alley, and hired Joe Patterson, VP of Sales, and Alison Shurell, Chief Marketing Officer. As the company grew, signing new clients throughout the year, entering the U.S. market was a logical next step and strategic company goal. The U.S. market is the second largest trademark market in the world, U.S.-based companies are very active in the global trademark space and numerous international companies' trademark offices are located in the U.S. due to the caliber of legal talent in the country, making the U.S. a very attractive market for TrademarkNow.
"This year, 2014, was a busy year of growth and expansion for TrademarkNow" said Mikael Kolehmainen, TrademarkNow Co-founder and CEO. "When we launched the company in 2012, we felt strongly that we had developed a platform that would automate many of the manual tasks associated with trademark searching with its advanced, patent-pending algorithms and artificial intelligence. With the addition of our NameWatch product this year, we are adding efficiency to a greater slice of the trademark lifecycle. Trademark attorneys, paralegals and brand managers have realized the power and ease of use of TrademarkNow's products to do their job faster and better. That adoption and usage has driven our expansion this year, which sets us up for even stronger growth in 2015."
TrademarkNow, winner of the 2015 Gold Stevie® Award for Company of the Year – Legal, provides an intelligent, web-based trademark management platform that is used by in-house legal teams, law firms and branding agencies for instant trademark search and watch results. At its core is a unique artificial intelligence engine based on both explicit and intricate domain models of trademark law. Created by experts in trademark law and linguistics, our cutting-edge system also utilizes state-of-the-art machine-learning techniques to produce models that seamlessly take real-world complexities into account. While the underlying intelligence is complex, the platform’s intuitive design and simple user interface make it very easy to use. The result: faster, smarter trademark search, watch and analysis.