ScaleIP (formerly LicenseLead), a Telluride, CO-based company helping enterprises, universities, labs, and hospitals identify high-intent target companies to monetize underutilized their patents, raised $1.5M in funding.
The round was led by Greater Colorado Venture Fund, with participation from Tunitas Venture, Comeback Capital, Community Access Fund, and Seed Round Capital.
The company intends to use the funds to accelerate growth and adoption of its IP business intelligence solution.
Led by CEO Mark Leonard, ScaleIP combines IP transaction data with intelligence to streamline finding the right companies and people to license, sell, or collaborate around any patent. Over 130 IP dealmakers are using it for reasons such as:
- Licensing patents.
- Selling patents.
- Deciding whether to keep or abandon a patent.
- Seeking collaborators or partnerships.
- Determining their patent’s market value.
Commenting on the news, Mark Leonard said: “A surge in IP filings and record-setting corporate IP expenditures has pushed enterprises into rapidly adopting new monetization strategies. By harnessing transaction data, ScaleIP helps IP teams save labor time, gain new revenue streams, and support patent decision making by identifying and engaging with the most likely IP partners.”
FinSMEs
15/02/2024