Grand Rapids-based Claira, a machine learning-driven competency engine designed to help employers understand talent and hire better, recently completed a $3.5 million seed funding round. Varnum’s Emerging Companies Practice Team negotiated and prepared stock purchase agreements, advised on strategy and executed other investment documents related to the matter.
Claira’s platform helps organizations optimize their workforce by uncovering hidden talents, identifying gaps and helping the firm future cast needs. This latest funding round will help with continued product development and sales.
Claira came to Varnum through the MiSpringboard program. Varnum initially helped the company through the organizational process and provided general corporate work, as well as assistance with two rounds of early-stage funding. The firm continues to provide a variety of legal work associated with a growing company. The Varnum Corporate Practice Team is led by Matt Bower with support from Mallory Field, Steve Enwright and Jake Whately.
“As a native Michigander with a background in the legal field, I know the excellent reputation Varnum has,” said Claira founder and CEO, Katie Hall. “Matt’s startup expertise has been a critical enabler of our early success. I recommend all founders get a good legal team as early as possible because the stakes are high and lots of problems happen at formation and early funding stages.”
The matter received coverage in a wide variety of publications including People Matters, FinSMEs, Canadian Insider and RFDTV.