Ayora raises £1.3m in pre-seed funding led by J12 to expand its legal technology platform.
The pre-seed round was led by data and AI specialist fund J12 with backing from angels and Twin Path Ventures.
Ayora has built an artificial intelligence platform that transforms revenue management and operational workflows for professional services firms. The company focuses initially on the legal sector to help practitioners recover lost revenue and streamline billing practices.
Ayora has secured £1.3m in pre-seed funding to accelerate product development and commercial expansion. The round was led by data and AI specialist fund J12, with participation from Twin Path Ventures and a selection of industry angel investors.
The capital will be deployed to expand the company engineering team and target the BigLaw market. Ayora addresses the substantial revenue leakage experienced by legal professionals due to manual administrative tasks and inefficient billing procedures.
From the founder
"Blue chip lawyers’ time is extremely valuable, and yet too much of it is taken up by manual tasks such as WIP list analysis, scope tracking and budget monitoring, and the associated routine client comms. We believe that in 2024, machines are perfectly equipped to handle those tasks whilst keeping the lawyer firmly in the loop; they also benefit from the insights gleaned from law firms’ vast historic time and billing datasets that are ordinarily not discernible to humans."
Stefan Ciesla
Co-founder and CEO at ayora
Investor perspective
"We are thrilled to back ayora. They are an exceptional team solving mission-critical revenue conversion problems for their customers in a radically different way. ayora’s unique technology transforms continuous revenue-level improvement processes within law firms by translating disparate data signals into highly personalised, highly actionable insights that can be deployed at scale. What’s more, their product generates rich metadata which is in turn used to improve future insights, creating a virtuous cycle that results in law firms producing higher revenues over time. We are excited about the applications of ayora’s tech both within the BigLaw industry and beyond"
Bo Mattsson
Partner, J12
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
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About the company
ayora
Ayora provides an artificial intelligence platform designed to automate and improve revenue management for professional services.