Oddr, a Silicon Valley and India-based legal tech startup looking to disrupt the archaic invoice-to-cash processes for the professional services industry, raised $2 million in Seed funding.
The round was led by Saama Capital and Twin Ventures, with participation from angels in the US, Singapore, and Germany.
Oddr plans to launch its services in North America, the UK, and Australia, with an R&D center in India.
The funds raised will be used to build the flagship product – an AI-powered cash invoice platform – for professional services (law firms, accounting firms, consulting firms, and financial services companies).
"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. Oddr is the first industry cloud platform that unifies billing, collections, and payments in a single platform. It also helps firms streamline the invoice to cash processes through AI, automation, and data-driven approaches. Our aim is to touch an ARR of $1 million in the next 18 to 24 months as we enter international markets," said Milan Bobde, co-founder and CEO of Oddr.
Oddr has entered into a strategic partnership with key industry product companies in the professional services vertical to accelerate MVP and customer acquisition.
Company: Oddr Inc.
Raised: $2.0M
Round: Seed Round
Funding Month: October 2022
Lead Investors: Saama Capital and Twin Ventures
Additional Investors:
Company Website: https://www.oddr.com/
Software Category: AI-powered Invoice to Cash Platform
About the Company: Founded in 2022 by Milan Bobde, Sumit Garg, and Saurabh Mehra, Oddr is a legal tech startup that uses artificial intelligence, automation, and data intelligence, it automates manual and paper processes to help businesses save time and money. Oddr enables enterprises to make data- and AI-driven business decisions that positively impact the firm's business and growth strategy while lowering bottom-line costs. Oddr aims to fix the broken billing, collection, and payment processes that currently result in significant revenue loss for businesses.
Source: https://www.entrepreneur.com/en-in/news-and-trends/oddr-raises-2-million-in-seed-funding/