Tera Ventures led the €1.2 million funding round to Avokaado
Ellex in Estonia advised venture capital firm Tera Ventures as the lead investor on the €1.2 million funding round to legal tech company Avokaado.
The investment will support the further development and growth of the platform in both already operating and new markets and customer segments.
What makes Avocado contracting and document automation software special is the new document format used on the platform called aDoc, which allows the company to seamlessly manage document metadata and legal content and integrate data and workflows with existing systems.
The technology used on the Avocado platform transforms contracts into intelligent microprograms capable of initiating actions and scenarios in various business processes according to predetermined instructions. aDoc’s structured data format is the basis on which the company will develop artificial intelligence applications, which will enable companies to make the metadata and content of previously signed documents machine-readable and visible, and to compare the documents sent by external partners with those in the databases.