SaaS platform SimpliContract has secured $3.5 million in pre-Series A funding round led by Emergent Ventures and participated by Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures and Sentinel Ventures.
SimpliContract has cumulatively raised $5.3 million to date including a $1.8 million in seed funding in June 2021.
The proceeds will be utilised to fuel SimpliContract’s growth and expansion in the US and European markets, with a focus on investing in sales and marketing, SimpliContract said in a press release.
Founded in 2020, SimpliContract helps in-house legal, sales, finance, and procurement teams simplify the process across the contract lifecycle and enable real-time collaboration for internal and external stakeholders.
According to SimpliContract, by streamlining the contracting lifecycle and reducing complexity and friction, its platform has the potential to reduce contracting time by up to 40% and help enterprises save millions of dollars. The unified CLM platform has been built for distributed global teams to simplify complex business processes and ensure compliance across all stages of the contracting process.
SimpliContract claims to serve enterprise customers, including Bass Pro Shops, ATI Physical Therapy, NHS, Kent Police, Cyient, Flipkart Group, and Byju’s. The platform caters to over 20,000 enterprise users across legal, sales, procurement, finance and HR, with a total contract value of $30 billion under management.