IP asset management firm Clairvolex secures Series A funding
San Jose based Clairvolex Knowledge Processes Pvt Ltd, an intellectual property (IP) asset management firm, has raised an undisclosed amount in Series A funding in a round led by Indus Age Partners.
Anaqua Inc, a Boston based intellectual asset management software company, also participated in the round.
Clairvolex will use the funds for product development, expansion of its US and Europe operations and for scaling up its Indian operations.
The company's global front end that devises IP management solutions and consulting for customers is headquartered in San Jose (California) while the company's global delivery centre and its back end operations hub is in Gurgaon. As part of its expansion plans, Clairvolex will move its analytics team—which operates currently out of Gurgaon -- to the US.
"The entire process of patent portfolio management happens out of Gurgaon," Manoj Pillai, managing director of Clairvolex, told VCCircle. "More than 65 per cent of our patent portfolio management comes from the hi-tech segment, namely, communications, computer sciences and digital electronics."
Pillai added that the US accounts for 65 per cent of its global clients and the remaining 35 per cent of its clients come from Europe.
With this transaction, the investors have acquired a minority stake in Clairvolex. Clairvolex and Anaqua will also combine their IP asset management capabilities and jointly offer IP asset management solutions to customers.
Clairvolex received its seed funding in 2007 from LexOrbis, an intellectual property law firm based in New Delhi aand received its angel funding from Singapore based investors in 2011.
"Companies, large and small, have a need to look at IP in a radically different way. Clairvolex's services address these needs in a very innovative and cost effective way," said Sriram Viswanathan, founder and managing partner of IndusAge Partners.
IndusAge Partners is an early global venture investment fund that primarily invests in companies in US and India that operate in the space of technology, financial services, healthcare and energy efficiency.
Founded in 2007 by Pillai, Clairvolex is a pure play IP assets management firm that manages and develops patents.