Legal tech platform Oddr has raised $2 million in a seed round led by Saama Capital and Twin Ventures, along with the participation from angels in the US, Singapore and Germany.
The startup, which is based in Silicon Valley and India, is gearing up to launch its services in North America, the UK, and the Australian market, with an R&D centre to be set up in India.
Oddr plans to use the raised capital to build the flagship product – an AI-powered invoice-to-cash platform – for Professional Services (Law firms, Accounting firms, Consulting firms & Financial services firms).
It aims to automate the billing process, which is primarily manual today, leading to invoice delays, higher write-offs, payment delays and high overhead costs for collections for professional services firms, the startup said.
Founded in 2022 by senior tech industry leaders Milan Bobde, Sumit Garg, and Saurabh Mehra, Oddr is a legal tech startup aiming to simplify and reduce complexities in the “Invoice to Cash” processes at Law Firms.
The startup said it has entered into a strategic partnership with key industry product companies in the professional services vertical. It also has multiple clients committed to build and run the MVP with an aim to achieve PMF in the next 2 quarters.
“We are aiming to solve a big problem for the professional services sector globally. Invoice to Cash process in professional services firms today is manual, fragmented, and cumbersome resulting in high Days Sales Outstanding (DSO), high write-offs and painfully high operating overheads. This space is ripe for disruption through innovation,” said Milan Bobde, Co-founder CEO of Oddr.
“Oddr is the first industry cloud platform that unifies Billing, Collections and Payments in a single platform. Oddr helps firms streamline invoice to cash processes through AI, automation and data driven approach.” Our aim is to touch an ARR of $1 million in the next 18 – 24 months as we enter international markets,” he said.
Oddr is the first industry cloud platform that unifies Billing, Collections and Payments in a single platform. Oddr helps firms streamline invoice to cash processes through AI, automation and data driven approach.” Our aim is to touch an ARR of $1 million in the next 18 – 24 months as we enter international markets, he adds.
Source @Indianstartupnews
