Total amount raised
$11 Millions
Latest funding date
10/01/2021
Location
Vakilsearch has successfully raised multiple rounds of funding, including a significant $10 million investment by In.Corp India in its Series B round. The platform offers a comprehensive suite of legal, tax, and compliance services tailored for startups and SMEs in India.
Keep reading to explore the intricacies of Vakilsearch's fundraising journey and the investors backing this innovative platform.
What Is Vakilsearch?
Founded in 2010, Vakilsearch is headquartered in Chennai, Tamil Nadu, India, with additional locations in Bengaluru and Hyderabad. The platform was established by Hrishikesh Datar.
Vakilsearch offers a comprehensive suite of legal, tax, and compliance services tailored for startups and SMEs in India. Their services include company registration, GST registration, trademark registration, accounting, and various other legal and compliance services.
The company employs between 11-50 people, providing an online platform for creating legal documents and offering services in legal documentation, trademark, copyright, patent, tax registration, company incorporation, and advisory.
How Much Funding Has Vakilsearch Raised?
- Series A (Mar 3, 2015)
- Amount Raised: $969K
- Date: March 2015
- Lead Investors: Kalaari Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in providing compliance solutions.
- Non-Equity Assistance (Dec 9, 2015)
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's operational needs and growth.
- Series A (May 21, 2020)
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's service offerings and expand its market presence.
- Series B (Oct 28, 2021)
- Amount Raised: $10M
- Date: October 2021
- Lead Investors: In.Corp Advisory
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate tech and product development, enhance marketing, sales, and talent acquisition, and transition to a client-based advisory platform.
Total Amount Raised: $10.969M. Current Valuation: Not publicly disclosed.
Key Investors
- In.Corp Advisory
- Details: In.Corp Advisory is the Indian arm of TA Associates-backed, Singapore-headquartered InCorp Global. They specialize in tech-based incorporation, corporate secretarial & compliance, accounting, taxation, FEMA, and investment banking services.
- Investment Focus Areas: Tech-based incorporation, corporate secretarial & compliance, accounting, taxation, investment banking services.
- Notable Investments: Not publicly disclosed.
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm that invested $2 million in Vakilsearch in 2015. They focus on early-stage investments in technology-driven startups.
- Investment Focus Areas: Early-stage technology startups, consumer services.
- Notable Investments: Not publicly disclosed.
- 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: Technology, e-commerce.
- Notable Investments: Udaan.
What's Next for Vakilsearch?
Vakilsearch stands at the cusp of significant growth opportunities, 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 also 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 focus on AI and ML initiatives could attract further investments, enabling the company to enhance its technological capabilities and market reach. However, challenges such as competition from other legaltech firms, integrating new technologies, and navigating regulatory changes may pose hurdles along the way.
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