London-based RoyaltyRange, a provider of professional databases used in International Tax and IP Valuations, announced on Monday that it has raised more than €4M in a joint investment from a diverse group of investors.
Presto Ventures, a Prague-based VC fund, co-invested with their limited partners (LPs) and contributed €1.25M to the investment. Trind Ventures and ZGI Capital invested €1M each.
Several angel investors from the Baltic region and Finland also participated in the funding round.
RoyaltyRange says it will use the funds to further grow and deepen the breadth and quality of data used in the company’s product portfolio.
What does RoyalRange solve?
Currently, the global business information market is populated with numerous pre-existing solutions that rely on outdated technologies and practices.
As a result, professionals in the fields of International Tax and IP Valuations often work with solutions that are not tailored to their workflow or data requirements.
To address these challenges, RoyaltyRange employs proprietary technology and algorithms to acquire and structure data from diverse sources.
“The wealth of RoyaltyRange’s subject-matter expertise means our products will continue to be at the vanguard of industry-specific developments. Our customer-driven approach means our products will continue to reflect our customers’ needs and work processes,” says Kestutis (Kris) Rudzika, Managing Partner of RoyaltyRange.
Built to remove inefficiencies
According to the company, its products were designed and built by International Tax and IP Valuation professionals to remove many of the inefficiencies inherent to this market.
RoyaltyRange offers a diverse product portfolio consisting of four databases and four data tools.
These include transactional databases that provide comprehensive information on royalty rates, service fees, and loan interest rates sourced from third-party agreements.
With a broad reach, RoyaltyRange serves clients across more than 70 countries, including KPMG, Ernst & Young, Deloitte, PwC, BDO, RSM, Grant Thornton. In addition, it serves numerous tax authorities and international law firms.
What the investors say
“Kestutis and Asta are well-established experts who have participated in several global initiatives in their field. With their extensive experience and skills, they built a professional team that delivered an ingenious, superior solution. Their commitment to providing the most reliable and comprehensive data in the industry makes them a valuable partner to businesses of all sizes. Presto is excited to play a part in RoyaltyRange’s success story and to support them in becoming the new leader in this field,” says Roman Novacek, CFA, partner at Presto Ventures.
“We are extremely proud of the success we’ve had, becoming an important player in a highly complex market. This success is a reflection of our team’s contributions and our core market’s appetite for products that reflect their needs and work processes. We are well-positioned for continued growth as we expand our range of products in our core International Tax and IP Valuations markets,” adds Asta Rudzikiene, Director, US & Canada.
Read the orginal article: https://siliconcanals.com/news/startups/royaltyrange-raises-4m/
