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Ayora Lands $1.6M Pre-Seed for AI Revenue Platform

Ayora, a revenue management platform, unveiled its success in securing $1.6 million in a Pre-Seed round
March 29, 2024

Introducing a game-changer in revenue management, ayora has just announced securing an impressive $1.6 million in a Pre-Seed funding round. Launched in 2022, ayora stands at the forefront of innovation, pioneering the world's first AI-powered platform designed to revolutionize revenue decision-making for busy professionals across various sectors.

The platform's inception comes at a crucial time, as ayora estimates that legal professionals worldwide lose a staggering 20 percent of revenue annually due to suboptimal revenue management practices. Despite technological advancements, tasks crucial to revenue management, such as fee decisioning and project management, remain labor-intensive and inadequately supported by existing solutions.

This significant gap in the market has led to professionals either neglecting revenue-related tasks to prioritize client work or spending excessive time on non-chargeable activities, resulting in significant value leakage for their firms. In fact, lawyers report spending approximately one-third of their time on non-billable work.

Enter ayora, with its groundbreaking platform that translates complex data into actionable insights, spanning from pre-drafting client correspondence to budget monitoring and optimal billing scheduling. By leveraging sophisticated AI algorithms, ayora empowers professionals to streamline revenue management processes, enhancing efficiency and profitability.

Leading the funding round is J12, alongside Twin Path Ventures and a distinguished group of angel investors, including industry luminaries such as Farah Ballands, Roger Siddle, and Abhijat Saraswat. According to Stefan Ciesla, co-founder and CEO of ayora, the platform's integration of machine capabilities is poised to revolutionize revenue management practices, freeing up valuable time for professionals while maximizing revenue potential.

Bo Mattsson, Partner at J12, echoed the excitement, emphasizing ayora's unparalleled ability to drive revenue-level improvements within law firms through personalized insights and scalable solutions.

With this injection of capital, ayora is poised for rapid expansion, with plans to bolster its engineering team and embark on commercial endeavors, beginning with a strategic focus on the BigLaw market. Building on its recent partnership with leading City law firm Mishcon de Reya, ayora is set to transform revenue management practices across the legal landscape and beyond.

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