Sorainen and Gunderson Dettmer in Los Angeles have advised Brainbase on a successfully completed USD 1 million seed round. The round was led by Tera Ventures, with participation from Sterling Road and several angel investors, including Severin Hacker, Andrew Rabin, and Hamid Barkhordar.
Brainbase is a Los Angeles and Tallinn-based technology startup founded in 2016 by Nate Cavanaugh, Karl Johan Vallner, and Nikolai Tolkatshjov. According to Cavanaugh, “we are building an end-to-end product ecosystem that gives companies new ways to manage and monetize their intellectual property through licensing.”
According to Sorainen’s press release, the funds obtained will be used to continue developing the company’s debut product, Brainbase Assist, a tool for brands and licensees to manage and automate the licensing process. Brainbase Assist, Sorainen reports, "is the first out-of-the-box licensing management tool that enables companies to bring licensed products to market faster with powerful collaboration tools, sales and royalty reporting, smart contract management, secure digital asset management and analytics on important metrics such as sales performance and rights availability."
The Sorainen team was led by Partner Toomas Prangli and included Senior Associate Hanna Pahk and Associate Mirell Prosa.
Sorainen reported that it was unable to disclose additional information about the deal.