ClearAccessIP Secures $3.7 Million in Funding
Alpana Ventures, Plug and Play Ventures, Founder's X and Bill Tai Among Investors
PALO ALTO, Calif., September 10, 2019-- ClearAccessIP, which helps the creators and owners of intellectual property to develop, manage, and transact patent-protected technology, today announced it has secured $3.7 million in investment in seed and note financing. Founded by Nicole Shanahan, ClearAccessIP seeks to transform the way innovators access patent rights and eliminate exposure to litigation. Six notable investors have been added, including Alpana Ventures, Plug and Play Ventures, Founder's X and Bill Tai, among others.
ClearAccessIP's platform integrates market leading technology, data, AI, and service delivery to help the creators and owners of IP develop, manage, and transact patent protected technology. The Company's SaaS enabled Marketplace streamlines companies traditional labor-intensive IP management and creation process to dramatically reduce the time and cost to obtain and manage patents, while significantly improving the liquidity of patent portfolios.
The Company will use this funding to grow their AI-intermediated trading service, their next step in supporting the SaaS Enabled Marketplace.
"ClearAccessIP is often described as 'the dream platform' by IP professionals that have struggled to find commercial and transactional opportunities for their clients," said Nicole Shanahan, CEO of ClearAccessIP. "Every time we hear a new user say 'this could have saved me a seven figure litigation had I had this last year', I feel the urgency to move more quickly in our mission. ClearAccessIP can change the culture around patenting and technology transfer. I truly view it as a necessary evolution in this transformative era of technological innovation."
"Cloud based SaaS has clearly enabled broader usage and unlocked tremendous value in many data intensive and previously labor intensive segments. This model in combination with ClearAccess IP's application of AI is a natural," said Bill Tai. "I see parallels to very early stage investments I've made in cloud design (Canva), cloud big data (Treasure Data), and cloud based multi media communication (Zoom)."
ClearAccessIP helps the creators and owners of IP to develop, manage, and transact patent-protected technology. The Company's SaaS enabled Marketplace is the only one-stop shop for high-stakes IP creation and monetization. By dramatically reducing the time and cost to obtain and manage patents, while significantly improving the liquidity of patent portfolios, ClearAccessIP's clients not only save more money; they make more money.
The Mission of ClearAccessIP is to unlock the world's IP to accelerate global innovation. The Company has created the world's most advanced Patent Intelligence AI engine, enabling companies to scour the world's patent databases to find relevant technologies, to find white space innovation opportunities, and to find potential buyers or sellers of intellectual property. ClearAccessIP has the potential to be the core platform for all stakeholders in the IP ecosystem, including corporations, universities, research labs, governments, inventors, entrepreneurs, investors and IP professionals. This will enable the Company to secure a significant piece of the $400 billion global patent services market. www.ClearAccessIP.com
Meghan Miele, firstname.lastname@example.org, 212-776-1163
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