Earlier this week, contractpodai announced the launch of a new Series of Vision Fund with an investment of $170 million. The company plans to invest in a series of companies with potential growth opportunities. With its focus on the mobile and online space, contractpodai will also look to benefit from its partnerships with leading technology companies such as Google, Microsoft, Facebook and Amazon.
Valuation
Earlier this year, ContractPodAi announced it had raised a $115 million series C investment from SoftBank Vision Fund 2. This is the first investment by the venture firm’s legal technology arm. The funds will be used to accelerate the company’s growth. The company plans to expand into new markets and build up its tech capabilities.
The company’s technology uses artificial intelligence to streamline contract lifecycle management. The company has offices in London, New York, Glasgow, and Mumbai, as well as in Sydney and Toronto. The firm integrates with IBM, Microsoft, and DocuSign. It also offers guided forms, analytics, and templates. The firm’s technology is designed to help in-house legal teams automate contracts. It was named a 2018 “AI Breakthrough” and has been ranked as a visionary in a 2021 Gartner Magic Quadrant report for contract lifecycle management. ContractPodAI has customers including Bosch Siemens and IBM. It was also named the Legal Company of the Year by the International Business Awards.
Record-setting sales quarters
Earlier this year, ContractPodAI, an AI-powered contract management solution provider, raised USD $115 million in a Series C round led by SoftBank’s Vision Fund 2. The deal comes at a time when legal tech companies are securing new capital in droves. ContractPodAI’s technology is particularly attractive to big investors because it offers an AI-powered solution to many of the challenges faced by in-house counsel.
The AI-powered contract lifecycle management platform, which integrates with DocuSign and IBM, was also awarded the AI Breakthrough Award by the International Business Awards. ContractPodAI’s sales quarters are also proving to be the best in the industry. It also scored a number of global enterprise-wide rollouts for Fortune 500 clients. The startup has offices in New York, London, Toronto and Glasgow. It has 200 employees. ContractPodAI has also won the Edison Award, a prestigious honor for demonstrating the most effective use of technology in an industrial context.
ContractPodAI plans to use the new funds to increase its global presence and enhance its platform. It plans to leverage SoftBank’s network to secure new opportunities in the APAC region.
Platformization strategy
Despite being one of the fastest growing verticals in the SaaS space, the legal industry has been slow to adopt digital processes. But venture capital firms are beginning to recognize this market opportunity. One of the first legal tech companies to receive a VC investment is ContractPodAi. This AI-powered contract lifecycle management platform is designed for in-house legal teams. In addition to helping them streamline their contract management processes, the technology also allows them to do so more efficiently. This helps companies improve their performance and results in faster revenue.
ContractPodAi has had several global enterprise-wide rollouts for Fortune 500 clients. The company is also a winner of the AI Breakthrough Award and was named “Legal Company of the Year” in the 2021 International Business Awards. The platform also earned a spot in the Gartner Magic Quadrant for Contract Lifecycle Management.
Conclusion
In a round led by SoftBank’s Vision Fund 2, ContractPodAi received $115 million in Series C funding. The capital will be used to improve the company’s contract lifecycle management platform. The company also plans to use the funds to expand its market presence internationally and speed up the platform’s capabilities.
