Pergamin, a Polish platform for data-driven contract management, has raised a seed round of €660K. The financial round was led by a Polish investment firm JR Holding, with a participation by their previous investor, Nunatak Capital VC. The funding will be used primarily for product development, including new data analytics features, utilizing Machine Learning algorithms, and as well as to expand its team, by hiring product specialists and developers.
Founded in 2017, Pergamin is an AI-based platform for contract management. Customers can automatically create, negotiate, sign and store their contracts and exchange data with other tools, such as CRM or HR management tools. Pergamin also eliminates human errors, by allowing users to automatically verify contractors’ data in external databases. With built-in electronic signature it makes the contracting process completely digital and eliminates the need for printing or sending documents by post.
So far, Pergamin has 10,000 active users and 150 customers in Poland – from enterprise companies to SMEs. Pergamin is implementing a project with Santander Bank, as a part of Accelpoint acceleration programme. The platform is used by some of the largest real estate developers in Poland (including publicly listed ECHO Investment), who use it to automate lease agreement processes.
“Companies lose money due to inefficient processes and lack of automation of routine, repetitive tasks. With COVID-19, remote working has become the “new normal” and companies have had to accelerate the digitization process. Pergamin addresses these needs, by shortening the contract preparation process and streamlining negotiations. As a result, we bring more control over the process and limit the number of errors, thus improving the quality of documents. We have been building Pergamin with a strong focus on our core values: ease of use and security. We believe that data-driven tools like Pergamin will soon become essential for the effective functioning of any company”, says Jakub Barwaniec, CEO and co-founder of Pergamin.
“JR Holding is keen on investing in startups that use technology to help companies manage their operations. The business management tools industry, especially those using AI for automation, are on a rise and we believe that Pergamin has solid foundations to achieve high growth”, sakid Artur Jedynak from JR Holding.
“Thanks to the use of Artificial Intelligence, Pergamin simplifies and significantly accelerates the process of creating, signing and managing contracts. It also reduces the risk of fraud and human errors. We have been observing a very dynamic growth of Pergamin since our first investment, especially in the new reality, where the majority of companies work completely remotely. We are committed to continuing supporting Pergamin with both capital and our expertise to help the company develop features relying on data science”, commented Piotr Ciżkowicz, Managing Partner, Nunatak Capital.