Haloo Secures $3.5 Million in Series A Funding
Haloo, a Toronto, Canada-based legaltech startup that provides a trademark search solution, secured CAD 4.7 million (3.5 million USD) in a Series A funding round.
The all-equity round was led by Innospark Ventures, with significant participation from BDC’s women-focused Thrive platform, LOI Venture, and existing investor W Fund.
Innospark Ventures is a new breed of early-stage venture capital firm, investing in impact-driven AI startups. The firm was founded in 2018 and is based in Boston, Massachusetts.
The company will use the funding to scale, with plans to expand sales, marketing, and recruitment efforts.
Founded by Julie MacDonell and Sarah Ruest, Haloo was launched as Heirlume to help small businesses with trademark searches and applications. Recently shifted to an enterprise software-as-a-service (SaaS) model, Haloo offers a trademark search solution powered by an in-house machine-learning model. that enables users to conduct batch searches efficiently. Its platform serves intellectual property teams, including lawyers and paralegals, and is available as a white-labeled API for domain registrars and other small business service providers.
Funding Details
Company: Haloo
Raised: $3.5M
Round: Series A
Funding Month: June 2024
Lead Investors: Innospark Ventures
Additional Investors: BDC’s Thrive platform, LOI Venture, W Fund
Company Website: https://haloo.ai/
Software Category: Legal Search