docket has raised us$8 million with kaszek, onevc, valor capital, canary, and wayra
Contxto – In real estate there is tons of paperwork. And in an increasingly digital world, Kaszek Ventures, Canary, ONEVC, Valor Capital, and Wayra have been convinced by Brazilian legaltech, Docket’s approach to this problem, through their document managing platform.
And that’s why these venture capital (VC) firms have invested in the startup in different occasions. What was unknown before was the exact value of their investments.
Nonetheless, according to Valor Econômico, the legaltech recently disclosed that summed up, these big names have invested around R$35 million (US$8 million) in Docket.
And these funds have been channeled towards strengthening its sales team and an improved service for customers.
Likewise, additional hiring is planned to increase from 100 team members to around 160 by year’s end.
Since its founding, the startup has raised a total of R$37 million (about US$8.5 million).
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Docket eases paperwork for real estate
Pedro Roso, Flavio Castaldi, and Rodrigo Lopes founded Docket in 2016.
From its HQ in São Paulo, this business to business (B2B) startup seeks to help companies better manage their real estate-related documents through artificial intelligence (AI).
The algorithm Docket developed, called REA (Real Estate Analysis), studies a property’s registration document (in Brazil it’s known as the matrícula de imóveis). This document is usually very technical, written in legalise, and ultimately not a fun read.
As a result, REA analyzes the document and helps users understand more about the property. That is, whether there are taxes owed, mortgages pending, or other crucial bits of information. According to Docket, the AI has an accuracy rate above 93 percent and takes than one minute.
It also hosts a search engine to locate properties within Brazil. Upon finding an interesting site, the user can request to see certificates and documents related to that property. That saves them time from having to physically go anywhere.
And, of course, all this paperwork is organized by the platform.
Roso—one of the Co-founders—stated that Docket currently has around 50 large-sized companies in its customer portfolio from various industries including construction, real estate and telecommunications. Among which are proptech Loft, and Cyrela, one of Brazil’s largest realtors and home-builders.
As for future plans, the legaltech intends to further develop its product to tender to mid-sized companies as well as reduce the duration of its products’ sales cycle.
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-ML
