What makes legaltech fundraising challenging?

The legal sector traditionally attracts less venture capital than other tech sectors, making it harder to scale operations and secure growth funding.

Who are the key investors in legaltech?

Generalist VCs with AI and SaaS focus (Andreessen Horowitz, Sequoia), strategic investors (Thomson Reuters Ventures, RELX Ventures), and specialized legaltech funds.

Can you help with strategic or corporate investors?

Yes. We structure governance and terms that balance strategic value with founder control.

Do you assist with data privacy and IP compliance?

Absolutely. We integrate GDPR, data localization, and IP protection into your fundraising structure.

What stage do you typically work with?

From seed to Series B and beyond, including hybrid or strategic co-investments.

Full Deal Execution

Startup Fundraising

Fundraising advisory for software startups

Modern conference room with a long wooden table, black chairs, large windows, circular hanging lights, a colorful geometric wall painting, and a potted plant.

Raising capital for a software company isn't just about product-market fit; it's about showing scalable economics and a clean structure investors trust

At dups, we help software founders raise capital faster and smarter, with one integrated team covering both legal and financial strategy. From valuation to closing, we make your funding round predictable, founder-safe, and execution-ready.

Why software fundraising requires precision

Investors in software look for clean cap tables and governance, predictable recurring revenues (ARR, churn, retention), strong IP ownership (code, data, architecture), and scalable unit economics (CAC/LTV, payback).

But fundraising often derails because of misaligned valuation, unclear investor rights, or documentation gaps. We ensure your deal mechanics and legal documents match your growth model, not slow it down.

Our software fundraising process

1. Readiness and capital strategy

We start by aligning your financial metrics and legal structure with investor expectations: valuation based on ARR and growth projections, capital requirement modeling (runway, CAC, burn multiple), investor targeting (SaaS-focused VCs, CVCs, angels), and governance setup (board, decision rights, KPIs).

We prepare you to talk to investors with confidence and with data that tells your growth story.

2. Term sheet and negotiation

We review, draft, and negotiate your term sheet, focusing on valuation and dilution impact, liquidation preferences, option pool expansion, and anti-dilution clauses, convertible vs. equity decision-making, and governance and veto right alignment.

Our financial models simulate what every clause means for your ownership and exit outcome, so you negotiate from a position of strength.

3. Legal documentation and closing

Once you're ready to move forward, we draft or review your investment agreement and shareholders' agreement (SHA), set up convertible notes or SAFE for flexible rounds, align IP ownership and license clauses before closing, and coordinate signatures, funds flow, and closing documents.

Everything is streamlined with no friction, no double work, and no surprises.

We support all software models

B2B SaaS

Subscription valuation modeling, convertible or priced equity rounds, and investor reporting and KPI governance.

B2C or freemium models

Monetization and retention-based valuation, and structuring seed and Series A rounds for consumer apps.

Deeptech or API platforms

IP structuring and licensing strategy, and hybrid capital structuring (convertibles and grants).

Enterprise software and AI tools

Complex governance design (co-founders, investors, and management), and international investor readiness and data compliance.

What makes dups different

Integrated financial and legal advisory: we synchronize your deal structure, valuation, and documentation under one roof.

Fast, founder-focused execution: we move at your pace; clear, responsive, and transparent.

SaaS-native expertise: we know ARR, churn, MRR, burn multiple, and retention, and how they translate into valuation leverage.

Global investor fluency: we work with European, UK, and US software investors, and we know what "market" looks like across borders.

Deliverables you can expect

We deliver a complete software fundraising package:

Investor readiness report (software-specific metrics)
Valuation and dilution simulation
Term sheet drafting and negotiation support
Shareholders' agreement (SHA) draft or review
Convertible note or SAFE setup
IP and data ownership structuring
Closing and legal coordination

Every deliverable is tailored to your software model, growth stage, and investor type.

What you get

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Typically by ARR multiple (5x to 12x depending on growth and margins), adjusted for churn and scalability. We model multiple valuation scenarios to set your target.

For early rounds, convertibles (SAFEs or notes) save time. For growth rounds, priced equity provides clarity and governance alignment.

Unclear IP ownership, messy cap tables, or unstructured option pools. We fix these before investor discussions.

Yes. We align Belgian or EU entities with UK or US investor expectations, ensuring compliance and efficiency.

Typically 8 to 12 weeks from first investor call to signature, faster when you're investor-ready.