Hence Technologies, a Rwandan online legal marketplace, has raised $1.8 million in seed funding. This brings the total cash raised by the company to $2.6 million so far.
Daybreak Partners, Broad Creek Capital (a global private investment company founded by two former lawyers Matthew Ruesch and Michael W. Green), Daglar Cizmeci, and a number of additional angel investors participated in the round.
Hence Technologies, founded in 2020 by Steve Heitkamp, Sean West, and Arun Shanmuganathan, matches internal legal teams of its client companies with external legal service providers using data from various sources, allowing it to recommend lawyers based on the nature of the assignment, location, and cost considerations.
“Only a little amount of data and information is used to make hiring decisions. We also thought that the corporations were squandering an opportunity to use data from their own experiences. “If a corporation spends $200 million a year, there is an opportunity to discover a lot of different things, such as what works well and what doesn’t,” Heitkamp explained.
“We want to use the funding to develop our workforce, notably technical talent, with some additional marketing spending,” Heitkamp added. We’ve already hired someone with a background in marketing and experience working with law firms.”
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