TLDR:
- Telluride, CO-based company, ScaleIP, has raised $1.5 million in funding to accelerate the growth and adoption of its IP business intelligence solution.
- The funding round was led by Greater Colorado Venture Fund and saw participation from Tunitas Venture, Comeback Capital, Community Access Fund, and Seed Round Capital.
ScaleIP, formerly known as LicenseLead, helps enterprises, universities, labs, and hospitals identify high-intent target companies to monetize their underutilized patents. The company combines IP transaction data with intelligence to streamline finding the right companies and people to license, sell, or collaborate around any patent.
The company’s solution is being used by over 130 IP dealmakers for various purposes, including licensing patents, selling patents, deciding whether to keep or abandon a patent, seeking collaborators or partnerships, and determining the market value of a patent.
CEO Mark Leonard commented on the news, stating that the surge in IP filings and corporate IP expenditures has led enterprises to adopt new monetization strategies. ScaleIP’s platform helps IP teams save time, generate new revenue streams, and support patent decision making by identifying and engaging with the most likely IP partners.
