{"id":4085,"date":"2022-01-19T00:42:08","date_gmt":"2022-01-19T00:42:08","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/19\/digital-contract-management-startup-ironclad-raises-150m-on-3-2b-valuation\/"},"modified":"2022-01-19T00:42:08","modified_gmt":"2022-01-19T00:42:08","slug":"digital-contract-management-startup-ironclad-raises-150m-on-3-2b-valuation","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/19\/digital-contract-management-startup-ironclad-raises-150m-on-3-2b-valuation\/","title":{"rendered":"Digital contract management startup Ironclad raises $150M on $3.2B valuation"},"content":{"rendered":"

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Digital contract management software startup Ironclad Inc.<\/a>\u00a0revealed today that it has raised $150 million in new funding to scale up its digital contracting platform.<\/p>\n

Franklin Templeton led the Series E round with\u00a0BOND, YC Continuity, Emergence, Lux, Haystack, Accel and Sequoia Capital also participating. The round was raised on a $3.2 billion valuation.<\/p>\n

Including the new funding, Ironclad has raised $333 million to date. Previous funding raised by the company includes $100 million in 2020<\/a>, $50 million in 2019<\/a> and $8 million in 2017<\/a>.<\/p>\n

Founded in 2014, Ironclad offers a digital contracting platform designed to allow in-house legal teams to unlock the power of contract data. The company\u2019s platform is designed to do all the administrative work better left for a computer, freeing legal teams to do substantive work and drive business strategy.<\/p>\n

Pitching itself as the top contract lifecycle management platform for innovative companies, Ironclad\u2019s platform provides a consumer-grade interface\u00a0that allows nontechnical users to create workflows for automating the most repetitive parts of the document handling process. More advanced automation options allow for complex deals, such as automatically adjusting the list of stakeholders who must approve an agreement based on the input signatories provide when filling out a contract.<\/p>\n

Customers use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance and turn contracts into critical carriers of operational business intelligence. The platform is flexible enough\u00a0to handle every type of contract workflow, whether a sales agreement, a human resources agreement or a complex nondisclosure agreement.<\/p>\n

Ironclad customers include\u00a0Dropbox Inc., Reddit Inc., Canva Pty. Ltd., L\u2019Or\u00e9al S.A., Mastercard Inc. and the Texas Rangers. Mastercard uses Ironclad\u00a0to free up strategic bandwidth and resources and the Texas Ranges is said to use the service\u00a0to unlock contract metadata that has enabled them to stay agile during COVID.<\/p>\n

\u201cSo far, we\u2019ve focused on the core digital contracting experience: the standardized system for business-to-business contracts that connects people to systems and ultimately, data,\u201d\u00a0Jason Boehmig<\/span>, co-founder and chief executive of Ironclad, said in a statement<\/a>. \u201cThis next phase of growth will be about expanding that experience into a platform\u00a0that connects business contracting processes across the organization.\u201d<\/p>\n

Image: Ironclad<\/h5>\n
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