With the FIFA World Cup kick-off still several months away, another world cup — one that showcases the best tech startups — will take place in just a few weeks. This year, the global competition will feature a Seattle-based startup.
The Startup World Cup is a yearly competition that features several companies from around the globe vying for the top prize of a $1 million investment. Participating startups compete by showcasing their company in a four-minute pitch followed by a two-minute Q&A with the judges. This year’s event will take place on September 30 in San Francisco.
Bellevue-based Advocat will represent the Seattle tech scene in this year’s Startup World Cup.
The legal tech startup was founded in 2019 by Pradnya Desh, a former U.S. diplomat, and uses AI for contract lifecycle management (CLM). CLM software is a helpful tool for companies needing to update contracts on a regular basis. Advocat uses AI technology and templates to update legal contracts, saving companies time during negotiation processes.
According to the company, its platform is easier to use than other CLM software and it chargers users on a per contract bias instead of requiring a subscription. Since launching, Advocat has raised $2.6 million in venture funding, according to Crunchbase.
According to GeekWire, Advocat secured its spot in the 2022 Startup World Cup by winning the Seattle regional event earlier this month.
In addition to startups pitching their business, the Startup World Cup will also feature several executive speakers such as CEO of GitHub Thomas Dohmke and Spencer Rascoff, co-founder of Zillow. Angel investor Kevin O’Leary from Shark Tank will also attend the event this year.