Avokaado

Avokaado is an Estonian legal technology startup that offers an all-in-one platform for document and contract lifecycle management. The company's core offering is a digital workspace that serves as a single source of truth for all contracts and related data within an organization. Avokaado's platform combines robotic process automation (RPA) and end-to-end workflow management to automate document-related tasks across various organizational functions.

By leveraging Avokaado's solution, businesses can achieve efficiency gains of up to 80% in managing contracts and documents. The platform fosters consistency in data and contract organization across teams and systems. A key component of Avokaado's technology is aDoc, a proprietary document format that integrates clauses, metadata, workflows, and lifecycle management into a unified structure.

Avokaado's platform caters to a diverse range of professionals, including operations managers, sales teams, legal professionals, contract managers, and business executives. It streamlines processes such as contract creation, collaboration, negotiation, and e-signing. The company's innovative approach aims to transform contracts from static text into intelligent, self-executing entities that can automate processes, track changes, and adapt to various scenarios.

As of March 2024, Avokaado had amassed a user base exceeding 20,000 businesses across the Baltics, Nordics, and the US. Notable clients include major companies from the telecommunications, retail, hospitality, and finance sectors, such as BITĖ Group, TV3 Group, Httpool, Radisson, Tele2, Veriff, Coolbet, Starship, and Ramirent.

In March 2024, Avokaado secured EUR 1.2 million in funding led by Tera Ventures. This investment will fuel the company's expansion into new markets and verticals, as well as support the development of an AI-ready upgrade for its platform. The AI-ready upgrade will enable Avokaado to transform contracts into dynamic, self-executing sets of valuable data, further enhancing efficiency and accuracy.