Australian-listed virtual data room provider Ansarada has announced a new global partnership with Microsoft for Startups to make it easier for startups to raise capital and grow. Ansarada, which helps to streamline the capital raising process, says it is the first third party technology vendor to forge a global partnership of this kind with the Microsoft for Startups program.
Microsoft for Startups helps remove traditional barriers to building a company with free access to technology, coaching, and support, in order to facilitate the growth of a healthy partner ecosystem.
Kirk Safford, director of Microsoft for Startups said: “We are partnering with innovative companies like Ansarada to help founders achieve more. As a part of Microsoft for Startups Founders Hub, startups can now receive access to Ansarada’s AI-powered platform designed to help streamline the process of raising capital.”
Stuart Clout, founder of transaction management company DocYard, which acquired Ansarada in September 2020, said: “Ambitious startups and small businesses are the beating heart of every economy. However, current barriers to funding and tailored support has left many out in the cold. Our unique and cutting-edge technology will help founders make the right decisions when it comes to their financing strategies.
“We are proud to partner with Microsoft for Startups, which has been instrumental in helping new and exciting businesses on their road to success. We look forward to providing them with ongoing support as they continue on their growth journey.”
DocYard raised AUS $50m in funding and subsequently acquired Ansarada after it became apparent to Clout that banks needed a more holistic process around a deal.
Following the merger, the pair have integrated DocYard’s workflow tools with Ansarada’s data room, winning bigger customers globally, who are attracted by Ansarada’s subscription and transactional-based workflow and project management capabilities.
Speaking to Legal IT Insider about the combined business earlier this year, Clout said: “If you’re doing any more than three or four deals a year, subscription makes sense. Or if you’re an executive director and you’ve decided to do a couple of deals a year, you’ll need to do it on a transactional basis, but you can simply put it on your credit card and buy it online, and we’re the first to do that.”
The company now has customers in 130 countries and has grown from 15 to 200 people, with Clout now based in the UK in order to grow Ansarada’s customer base in the Northern Hemisphere.