Onna Technologies, the knowledge integration platform for corporate legal departments, just announced a $5 million funding round, led by Nauta Capital. The Barcelona and San Francisco-based startup was founded in 2015. Onna is a knowledge integrator that connects to different data sources used by legal departments within organizations to enable enterprise discovery.
The fresh capital will enable Onna Technologies to continue its ambitious growth plans, fuel further integrations and improve its AI through which organizations minimize risk by managing their internal content wherever it is stored.
Through its simple and intuitive UI, Onna’s customers can instantly access any type of information, whether it is contracts, chat conversations or pictures, by connecting all their data sources into one central platform. In addition, it offers smart search capabilities, which use neural networks to automatically classify certain types of documents such as contracts, NDAs, Passports and Agreements.
They currently serve two main use cases: Knowledge Discovery and eDiscovery collections. They create value by saving time looking for information and by automating data indexing and processing, making the repositories ready for eDiscovery and compliance purposes. This has a saving potential of tens of millions per company per year.
Salim Elkhou, the co-founder and CEO of Onna stated: “Data proliferation creates a problem for most users within an organization in finding what they are looking for, as well as the organization itself which has strict regulatory, IT and compliance needs. We wanted to create a scalable product that served both the users, and the company to quickly access all the knowledge they have access to, whether it was an email they received in Gmail, or a contract clause saved in Confluence. Onna’s mission is to connect all the knowledge within an organization.”
Jordi Viñas, the Barcelona-based General Partner at Nauta, who led this investment round, commented: “We are extremely impressed by Onna’s technology and the rapid growth it has experienced over the past year with customers such as Facebook. Not only does this funding boost momentum to maintain and expedite the company’s future growth, but what the AI-based platform Onna has built is unique and set to become fundamental in the eDiscovery collections and knowledge management for Legal departments that affects a multi-billion dollar market.”