AI-powered contract lifecycle management software ContractPodAi has announced a $55 million Series B round investment led by Insight Partners, with participation from the company’s Series A backer Eagle Proprietary Investments.
This $55m investment represents Europe’s largest legaltech Series B fundraise and the largest Series B round for any CLM provider globally.
ContractPodAi is an end-to-end solution for all three aspects of contract management: contract generation, contract repository, and third-party review. Its technology uses AI to streamline all areas of the contract management process, massively reducing the burden on corporate in-house legal teams and transforming them to tech-enabled value centres for the wider business.
Founded in 2012, ContractPodAi now serves customers across every continent, with offices in London, New York, San Francisco, Glasgow, and Mumbai. Its customers include large scale global corporations across all industries.
The investment will allow ContractPodAi to significantly scale-up its product development, sales, and customer success teams globally. This will help meet the growing demand for its AI-powered contract management platform within global corporations.
Sarvarth Misra, co-founder and CEO of ContractPodAi, said: “This is a truly exciting time for the legal technology sector – we are on the cusp of the legal sector’s very own industrial revolution. We are hugely passionate about building platforms that help lawyers do their jobs more effectively and allow them to focus on what they love doing. Our solution is customer focused and our team has both the legal and tech experience needed to disrupt the legal world and unlock added value.
“This new investment will allow us to take ContractPodAi to a much wider audience, serve our customers better and ensure we continue our rapid growth trajectory.”