London-based legal tech startup ContractPodAi is a provider of contract management software that makes life easier for lawyers and corporations. Its platform not only manages contracts, but uses AI and smart data analytics to transform legal documents into structured data and insights, driving revenue and reducing risk for clients.
Founded in 2012, ContractPodAi has raised a €49 million Series B investment round led by Insight Partners, with participation from the company’s Series A backer Eagle Proprietary Investments.
ContractPodAi uses AI to streamline all areas of the contract management process, including contract generation, storage, and third-party review. Its enables users to easily assemble, automate, approve, sign and manage all their contracts and documents.
Founded in 2012, ContractPodAi now serves customers across every continent, with offices in London, New York, San Francisco, Glasgow, and Mumbai. Its customers include major corporations across all industries.
The new investment will allow ContractPodAi to significantly scale-up its product development, sales, and customer support teams globally to meet the growing demand for its AI-powered contract management platform.
“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,” said Sarvarth Misra, co-founder and CEO of ContractPodAi. “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.
Insight Partners is a leading global venture capital and private equity firm headquartered in New York City, and has backed some of Europe’s top technology and software companies including BlaBlaCar, Calm, Darktrace, Delivery Hero, Hello Fresh, and Shopify.
“We are hugely impressed by ContractPodAi’s phenomenal and capital efficient growth and, most importantly, by the passionate testimonies their customers share about the game-changing impact of the ContractPodAi platform,” said Insight Partners Managing Director Jeff Lieberman. “This momentum speaks to a real and unmet market need for a truly horizontal, end-to-end CLM ecosystem in driving digital transformation efforts across legal ops.”
“We are delighted by Sarvarth’s vision for ContractPodAi within the legal technology sector and how that has been backed by ContractPodAi’s execution of its business plan and growth trajectory,” said Deval Dvivedi from Eagle Proprietary Investments. “We have targeted legal technology as a fast-growth sector and ContractPodAi as one of the future leaders within the sector. We continue to be excited about ContractPodAi’s scale up growth map and look forward to working with the company and investors Insight in achieving our shared vision.”