Modria, a San Jose, Calif.-based dispute resolution platform, raised $5m in Series A funding.
The round was led by Foundry Group, with participation from Kapor Capital (Mitch Kapor), EDVenture Holdings (Esther Dyson), and Dan Ciporin (former Chairman and CEO of Shopping.com), as well as Battery Ventures and Advanced Technology Ventures.
Co-founded in 2011 by COO Colin Rule and Ethan Katsh and led by newly appointed CEO and president J. Scott Carr, Modria provides a cloud-based online dispute resolution platform that enables businesses and government agencies of any size to resolve customer problems fairly. It combines knowledge of legal processes with tools that flag and diagnose customer issues and drive effective negotiation, mediation and arbitration before complaints can emerge in (social) media.
The Modria Diagnosis module collects and organizes all the relevant information about the issue and suggests possible solutions. The Negotiation module aims to enable the parties to discuss the matter directly and on the record. If the parties are unable to resolve the issue through negotiation, the Mediation module provides a third party to help clarify issues and suggests options. If no mutual agreement can be reached, an Arbitration module allows the parties to select a decision maker who examines the facts and renders a decision. Throughout the process, users can engage in discussions and submit documents and videos supporting their arguments.
It is used in government and commercial caseloads in the US, Canada, and Europe.
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FinSMEs
08/07/2013