Legal tech platform Oddr has raised $2 million in a seed round led by Saama Capital and Twin Ventures. The round also saw participation from angels in the US, Singapore and Germany. The Company which is based in Silicon Valley and India is gearing to launch its services in North America, the UK and Australian market with a R&D center to be set up in India.
Oddr is currently in a team expansion mode in India and has also announced senior key hire Eric Newman as Chief Architect. The Funds raised will be used to build the flagship product – AI-powered invoice to cash platform – for Professional Services (Law firms, Accounting firms, Consulting firms & Financial services firms). Oddr aims to automate the billing process, which is primarily manual today, leading to invoice delays, higher write-offs, payment delays and high overhead costs for collections for professional services firms.
Milan Bobde, Co-founder CEO, Oddr, says, “We are aiming to solve a big problem for the professional services sector globally. Invoice to Cash process in professional services firms today is manual, fragmented, and cumbersome resulting in high Days Sales Outstanding (DSO), high write-offs and painfully high operating overheads. This space is ripe for disruption through innovation. Oddr is the first industry cloud platform that unifies Billing, Collections and Payments in a single platform. Oddr helps firms streamline invoice to cash processes through AI, automation and data driven approach.” Our aim is to touch an ARR of $1 million in the next 18 – 24 months as we enter international markets, he adds.
To accelerate MVP and customer acquisition, Oddr has entered into a strategic partnership with key industry product companies in the professional services vertical. Oddr has also multiple clients committed to build and run the MVP with an aim to achieve PMF in the next 2 quarters.
Started in 2022, Oddr is founded by senior tech industry leaders Milan Bobde, Sumit Garg and Saurabh Mehra, who bring complementary skills to the table needed for a fast scale up focused business.
Saurabh Mehra, Chief Product Officer, has 20 years of experience working in the Legal Technology space leading Product Management, Customer Success and Strategic Consulting teams.
Sumit Garg, Chief Technology Officer, is a hands-on engineering leader focused on strategy, growth, team building, and technical excellence. He has over 20 years of experience building enterprise applications and leading distributed engineering teams globally.
Milan Bobde, Chief Executive Officer, has over 22 years of experience working with and leading product and business strategy functions.