Funding Alert

AI And SaaS-Based CLM Platform SimpliContract Raises Funding $1.8 Million, Round Led By Kalaari Capital

• ByStartupStory     |    June 14, 2021

AI and SaaS-based contract lifecycle management (CLM) platform, SimpliContract raises funding $1.8 million in a seed funding round led by Kalaari Capital with participation from Picus Capital, Arka Ventures, and Digital Sparrow Capital. SimpliContract raises funding to drive the startup’s efforts in engineering, AI research, and marketing.

Guru Venkatesan, CEO of SimpliContract said about SimpliContract raises funding, “We are seeing significant interest and adoption in the market within a few months of launch. SimpliContract’s AI-driven platform supports over 4,000 enterprise users and manages 30,000+ contracts worth over $2 billion in value. Organisations are seeing value in user-centric interface, AI capabilities, and agile integrations, and we are committed to delivering on all these.”

The product supports  and enables effective collaboration for internal and external stakeholders such as vendors and customers.

Further, Ravinder Singh, Partner at Kalaari Capital said regarding the investment,  “90 percent of global enterprises and 50 percent of midsize organisations will have CLM solutions in place by 2023. The global CLM market is expected to grow from $1.5 billion today to $5.2 billion by 2027. We believe that the AI-powered CLM platform of SimpliContract will drive and ride this growth.”

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