Autenti, a platform for approving documents and signing contracts online, will use Blockchain technology for additional security of data and operations credibility level increase. In introduction of technology of distributed registers, as well as dynamic development of the company in areas of sales and marketing, Autenti will be supported with PLN 6.3 million (EUR 1.5M) funding by Innovation Nest and Black Pearls VC funds.
Autenti is a platform for approving documents and signing contracts online. The unique combination of innovative application of electronic signature, easy access to the cutting-edge technology, and legal basis of national and European law regulations, allows entrepreneurs to escape the necessity of signing printed agreements by hand and exchange their physical copies by the involved entities. It’s the first solution of this kind in Poland and one of a few in Europe. In 2016, global market of electronic signature was worth USD 631.5 million. Analysts predict that the market CAGR increase will amount to 26.4% in 2017-2025, and will reach USD 4.98 billion before the end of 2025.
–The idea of giving up paper in favour of new technologies is no longer merely a fashion among organizations, but an urgent need. Our conversations about e-signatures in various companies finish not with “if” but “when us?” – says Grzegorz Wójcik, Autenti CEO. –Thanks to the support of Innovation Nest and Black Pearls VC, we have a chance to seize the right moment to significantly speed up by fulfilling ambitious plans of foreign expansion and increasing data security level. It’s the competence, experience, and international contacts of our partners that are crucial for the dynamic development of Autenti. – he adds.
As a lead investor, Innovation Nest allocated for development of Autenti PLN 3.3 million from the Innovation Nest II fund, focused on support of projects developing software used in business solutions.
– The most crucial characteristics of the projects that has the largest chance to succeed is significant influence on process effectiveness in the company. – says Marek Kapturkiewicz, partner and co-founder of Innovation Nest fund. – Autenti certainly shows this characteristics by offering a feature which will allow to fundamentally speed up and optimize process of signing contracts and other business documents. Simultaneously, it is guaranteed that the signed document is the right one, and that it will never be lost.
Black Pearls VC provided PLN 3M of funding for the project basing on LQT Fund II created under the National Research and Development Center’s BRIdge Alfa program. The strategy of LQT Fund II assumes supporting development and commercialization of life quality technologies.
– Autenti optimizes contract conclusion process to the revolutionary degree. The project is a model solution of Life Quality Technologies area. – says Tomasz Woźniak, Member of the Board of Black Pearls VC. – In this area, we want to support about ten R&D projects with significant commercial potential and Autenti perfectly fits our strategy also in this aspect.
Autenti had its debut on the market 3 years ago. The solution is a project of leading managers of Internet industry in Poland, who combined their experiences from companies such as Interia, Onet, TVN, and Allegro, with their passion and competences, to fulfil one of the most urgent needs of business. The mastermind, Grzegorz Wójcik, long-time manager and specialist on digital media and e-commerce, became the leader of the project. The founders team was completed by Łukasz Rzepecki (CTO), Tomasz Plata (CMO), and Bartosz Wojciechowski (CLO). Last year, Autenti noted significant increase of interest in the e-signature feature, which resulted in several dozen of new contracts, won contests and tenders, and participation in the international program Google Campus Residency.
Autenti is a platform for approving documents and signing contracts online. Thanks to Autenti, signing documents is possible via computer, tablet, and a smartphone, at any time and place: at the office, at home, or during a journey. The platform is a unique combination of electronic signature, innovative technology, and legal environment based on national and European law regulations. The feature may be used in relations with business partners (B2B), as well as consumers (B2C) and employees (B2E). It’s the first solution of this kind in Poland and one of a few in Europe.
Innovation Nest is a venture capital firm based in Cracow, Poland focusing primarily on investments in European companies developing early stage B2B software. The company was set up in 2011 and it already has over 35 companies in its portfolio, including UXPin, Picodi, Growbots, Estimote, and Elmodis. The mission of the company is funding Europe-based specialized teams and helping them in development unto global scale.
Black Pearls VC
Black Pearls VC is a venture capital company managing seed and post-seed funding, focusing on support of Life Quality Technologies. Black Pearls VC helps the best entrepreneurs and scientists to build companies of global reach by supporting their projects from deep tech and enterprise software, digital healthcare, and smart transport systems areas. Since 2016, the company is a member of Invest Europe organization and participates in Kauffman Fellows – elite educational program for VC managers working in global perspective.