The pre-Series A funding round for the SaaS platform SimpliContract raised $3.5 million, with participation from Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures, and Sentinel Ventures.
Up to this point, SimpliContract has successfully raised a total of $5.3 million, including $1.8 million in seed funding in June 2021.
According to a press release from SimpliContract, the funds will be used to support the company’s growth and expansion in the US and European markets, with a particular emphasis on investing in sales and marketing.
SimpliContract was established in 2020 to assist internal legal, sales, finance, and procurement teams in streamlining the contract lifecycle and facilitating real-time collaboration for all stakeholders.
SimpliContract claims that its platform has the potential to cut contracting time by up to 40% and assist businesses in saving millions of dollars by streamlining the contracting lifecycle and lowering complexity and friction. To streamline complex business processes and guarantee compliance throughout all phases of the contracting process, the unified CLM platform has been developed for distributed global teams.
Bass Pro Shops, ATI Physical Therapy, Kent Police, NHS, Cyient, Flipkart Group, and Byju’s are just a few of the allegedly enterprise clients SimpliContract serves. With a total contract value of $30 billion under management, the platform serves over 20,000 enterprise users in the legal, sales, procurement, finance, and HR departments.
