A massive congratulations to the newest GD1 portfolio company Latch!
Latch has impressive investor backing and we are proud to join the likes of US-based VC Craft Ventures, as well as local Phase One Ventures, and several founders at some of the world's biggest tech companies!
Fiona Rotherham from NBR does a great job highlighting how and why Latch came to be.
Co-founded last year by former lawyer and now chief executive Min-Kyu Jung and chief technical officer Jacob Duligall. They are launching into the US market at the end of this month after recently completing a $2.3m (US$1.4m) pre-seed capital round.
In addition to discussing how Latch has developed technology for in-house legal teams so they can focus on legal rather than administrative work by automating routine contracting processes, the article covers topics including; the genesis, from lawyer to entrepreneur and direct to the US.
Backed by US-based VC firm Craft Ventures (which has also backed the likes of Airbnb, Reddit, and Slack) and Pioneer incubator founder and Cue co-founder Daniel Gross. In conjunction with, local investors such as GD1 and Phase One Ventures the write-up goes on to discuss the form the money was raised and where the company is registered.
Key quotes include:
"He (Min-Kyu) ended up teaching himself how to code, leaving his corporate career, and building the startup."
"Jung said he decided to bypass the New Zealand market and sell the digital contracting product in the US first. It will sell on an annual subscription-as-a-service model."
“We want to become one of the most important companies in the world. And I think to do that we need to grow really fast.”
Read the full NBR write up here.
Date: September 16th 2022
Writer: Fiona Rotherham (firstname.lastname@example.org)