Startup legal technology firm PatentDive Inc. in New Orleans has received a round of financing led by The Catalyst Fund in Baton Rouge.
The investment will assist the company in expanding its marketing efforts and accelerate product development. An amount was not disclosed. The company's patent preparation software is used by customers to facilitate the invention disclosure process and speed up patent application preparation.
PatentDive partners with startup incubators and patent professionals to provide quicker, more affordable filing options for early-stage companies.
"Our software helps demystify the patent process and makes it easier for them to get started," said Eric Leininger, PatentDive’s founder and CEO.
“The goal of our software is to help inventors, entrepreneurs and companies protect their ideas and bring their products out to market fast," said Mitchell Klein, co-founder and chief strategy officer. "The partnership with The Innovation Catalyst Fund shows Louisiana’s continued commitment to success for early-stage companies.”
“The importance of securing patent protection on an invention cannot be overstated, but the traditional patent process is so complicated, expensive and time consuming that it is often dismissed by many entrepreneurs, “said Louis Freeman, CEO of The Catalyst Fund.
PatentDive is supported by a grant for from the National Science Foundation in conjunction with Xavier University. PatentDive also is supported by Louisiana Economic Development.