Tangibly snags $1.3m to protect trade secrets

• Backers include WS Investment Company, Madrona Venture Group, Brainstorm Ventures, Incisive Ventures, PatentVest and Family Angel Management Fund
• New capital will be used for product development and sales and marketing
• Tangibly is currently being used by general counsels and IP heads

Seattle-based Tangibly, a trade secret management platform, has secured $1.3 million in pre-seed financing. The investors include Wilson Sonsini’s venture arm, WS Investment Company, Madrona Venture Group, Brainstorm Ventures, Incisive Ventures, PatentVest and Family Angel Management Fund.

Tangibly’s new capital will be used for product development, including AI/ML initiatives as well as building the sales and marketing teams.

“Trade secrets are a critical component in a company’s intellectual property strategy,” said Aseem Datar, a partner at Madrona, in a statement. “New collaboration models, remote working scenarios and employee mobility are exposing new set of vulnerabilities that must be protected against.”

Tangibly is currently being used by general counsels and IP heads, as well as by outside counsel who are helping clients implement trade secret management practices.