On Wednesday, intellectual property management platform Tradespace announced that it had closed a $4.2 million seed funding round, bringing the startup's total funding to $5.2 million.

The latest round was led by Eniac Ventures, with participation from Abstract Ventures, Amplo VC and Scrum Ventures.

Tradespace, which launched in 2017, looks to help clients better evaluate new invention disclosures by searching prior art, identify dead gaps across post-merger IP portfolios and create new licensure opportunities through monetization and IP partnerships.