Mumbai: Three-year old legal outsourcing start-up Pangea3 LLC closed its third round of funding last week. It roped in $7 million (Rs28 crore) from growth investor Sequoia Capital. The company is headquartered in Mumbai and New York and provides low-cost legal support services to companies and law firms based in the US.
The company will use the funding to recruit legal talent in India and the US in order to expand its services, and for sales and marketing. “Over the last year, Pangea3 has added several new service offerings. The additional funding will allow us to leverage our existing model of legal services with US attorney management to take advantage of the market opportunity,” said Sanjay Kamlani, co-founder, Pangea3.
Kamlani quit his job as CFO at Chennai-based knowledge process outsourcing firm OfficeTiger (acquired by RR Donnelley last year) in 2004 to startup on his own. Co-founder David Perla was vice-president (business and legal affairs) at online recruitment portal Monster. The company was seed-funded by a number of angel investors, among them, Sunil Wadhwani, CEO of iGate Solutions, and Baazee founders Suvir Sujan and Avnish Bajaj. The next round of funding, $4 million, came from New York-based strategic investment and advisory firm GlenRock Group LLC in May 2006.
The company provides offshore Intellectual Property (IP) services, patent drafting, legal research and database technology services from its delivery centres in Mumbai.