TrademarkNow, a Finnish startup specializing in trademark search and risk analysis, announces that they have raised $3.5 million in a Series A round from London-based Balderton Capital. The company says they intend to use the funding to expand operations to cover all the national registries within the EU and up to 10 further major registries.
The company was launched in March 2013 by former trademark lawyer Mikael Kolehmainen and claims that 5,000 trademarks have been cleared by customers so far via TrademarkNow services, saving clients 10,000 work hours and up to $3 million in operational costs.
Previous investments include $250,000 from Helsinki-based Lifeline Ventures in August 2012 and another $400,000 from Lifeline in August 2013.
TrademarkNow offers companies a tool for checking existing trademarks to avoid any potential conflicts and offers analysis of the likelihood of a particular trademark application being approved. Their subscription-based service allows customers to pay an annual fee for unlimited search, a system that they claim is an improvement over the usual pay-per-search model.
TrademarkNow currently cover the three major trademark databases in the world: PTO from the U.S., the European OHIM, and WIPO. But they intend to greatly expand their coverage. Per the press-release for the investment, this new funding will be directed towards building their team and fulfilling their goal of covering major trademark registries.