SEATTLE, Aug. 5, 2015 /PRNewswire/ -- Patent Navigation, Inc., creator of TurboPatent®, announced today that it secured $2M in a series seed financing round led by Seattle-based Voyager Capital.
Patent Navigation is focused on reinventing the patent process through its innovative software and services. TurboPatent, the first, fully automated patent preparation, prosecution and case management solution, makes it possible to create quality patents efficiently and securely.
"The patent process is time-consuming, and patent professionals are under pressure to deliver higher quality applications more efficiently," said James Billmaier, Patent Navigation CEO. "With TurboPatent, patent professionals are now using software to automate the patent process, similar to how other industries improve quality, consistency, and efficiency. We already have a very powerful tool in TurboPatent, but we also have much more we want to do. This funding will help us accelerate the reinvention of the patent process."
"What we have built is fundamentally transforming the patent system in a very positive way," said Charles Mirho, Patent Navigation co-founder and General Counsel. "The investment and experience of Voyager Capital solidifies our leadership position in this extremely strategic market."
"We've had previous success investing in software solutions for the legal market, and are excited about the market potential for this opportunity" said Bill McAleer, Managing Director at Voyager Capital. "The demands on the patent industry—the growth in patent applications; the need for more patent professionals; and the pressure on cost, quality, efficiency and security—make us confident the market is ripe for what Patent Navigation is delivering."
TurboPatent was made generally available to patent professionals three months ago. Initial users have already tapped the benefits of TurboPatent to generate hundreds of applications, dramatically reducing the average time it typically takes to draft a high-quality patent.
Patent Navigation also provides professional services to accelerate the benefits of TurboPatent to legal firms and corporate inside counsel.
As a result of this funding event, the company will be adding three new members to its Board of Directors— one filled by Bill McAleer, Managing Director for Voyager, and two others to be announced later.
More information and product demonstrations are available at:
About Patent Navigation, Inc.
TurboPatent® was created by Patent Navigation, Inc., located in Seattle, WA. Patent Navigation employs a team of entrepreneurs, developers, and patent professionals who have many years of experience in streamlining and automating the patent process.
www.patentnavigation.com; firstname.lastname@example.org; 425.681.9321
About Voyager Capital
Voyager Capital is a leading West Coast information technology venture firm that provides entrepreneurs with the resources, experience and connections to build successful companies. Voyager invests primarily in early stage, digital media, and software and services companies, where the firm's domain expertise, go-to-market and team building resources help build market leaders. Voyager Capital has $420 million under management with offices in Seattle, Washington; Portland, Oregon; and Menlo Park, California.
SOURCE Patent Navigation, Inc.