Bengaluru-based SaaS Firm SimpliContract Raises $3.5M in Pre-Series A Funding for US and European Market Expansion, Led by Emergent Ventures
- ByStartupStory | April 12, 2023
SimpliContract, an enterprise SaaS company based in Bengaluru, has received $3.5 million in Pre-Series A funding from Emergent Ventures. Participating in the round were Sentinel Ventures, Foster Ventures, Leslie Ventures, Kalaari Capital, and Picus Capital.
According to a statement from the company, the money will primarily be used to support SimpliContract’s growth and expansion in the US and European markets, with a focus on investing in sales and marketing. With its artificial intelligence-powered platform, SimpliContract, which was founded in 2020, serves the Contract Lifecycle Management (CLM) market for over 20,000 customers, including BYJU’S, Flipkart Group, and NHS. According to the business, it is managing contracts worth $30 billion in total.
“With digitisation and automation taking center stage, CLM is no longer a ‘good to have’ but a ‘must-have’ for enterprises. We’ve seen a considerable uptake for our CLM platform basis its maturity, versatility, and unique features compared to contemporaries in the market,” Guru Venkatesan, Co-founder and CEO of SimpliContract, said.
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