PR92036

LONDON, Sept. 30, 2021 /PRNewswire=KYODO JBN/--

  -- ContractPodAi will focus on accelerating its ContractPodAI Cloud growth

     plans: 'One Legal Platform' to support in-house corporate legal teams with

     a multi-application solution for their technology needs

ContractPodAi (https://c212.net/c/link/?t=0&l=en&o=3307336-1&h=1476905660&u=https%3A%2F%2Fcontractpodai.com%2F&a=ContractPodAi),

the award-winning provider of the AI-powered contract lifecycle management

(CLM) led 'One Legal Platform', today announced a USD $115 million Series C

investment headed by SoftBank Vision Fund 2. This latest round saw

ContractPodAi's valuation increase 5x from its previous Series B round in 2019.

As part of the transaction, Ayush Jain of SoftBank Investment Advisers will

join the ContractPodAi Board. Proceeds from the round will go towards further

accelerating ContractPodAi's platform capabilities and expanding its market

presence internationally, leveraging SoftBank's networks to capture new

opportunities in the APAC region. This funding round also marks Vision Fund 2's

first investment in legal technology, one of the fastest growing SaaS

categories.

Logo - https://mma.prnewswire.com/media/1422361/ContractPodAi_Logo.jpg  

Almost every business function relies on legal involvement or expertise.

Despite its importance, legal has been one of the last functions to adopt

digitization. Legal is the next frontier for digital transformation, and

ContractPodAi is leading the charge.  

ContractPodAi's 'One Legal Platform'

Building on the strength of ContractPodAi's end-to-end CLM solution,

ContractPodAi's no-code platform allows teams to manage any legal scenario,

process, or document using the platform's pre-built and configurable

applications such as claims, RFP review, and IP portfolio management.

In addition, the platform offers simple, guided forms and templates to create a

legal application from scratch in minutes - a fast, easy, and intuitive way to

scale highly tailored solutions for in-house teams' everyday legal needs.

Across both pre-built applications and configurable applications, the platform

leverages an embedded toolkit of AI functionality like document review,

cognitive search, and advanced analytics for each use case. Pre-built

applications contain tailored AI data models tuned to the objective of each

module.

ContractPodAi is dedicated to help in-house counsel address any legal task they

need to deliver, from buy- and sell-side contracting, to compliance

requirements, to corporate governance. ContractPodAi's versatile platform

offering and no-risk digital transformation delivery model maximize a legal

team's technology investment. Additionally, ContractPodAi offers an expert

legal transformation team who can engineer applications to any company's

workflows and playbook.

"Despite the inexorable digitization of the workplace, legal processes have

largely resisted disruption," said Ayush Jain, investor for SoftBank Investment

Advisers. "ContractPodAi's technology aims to empower in-house legal

professionals to radically improve business performance such as driving faster

revenue recognition, increase compliance adherence and optimise operational

workflows. We believe the company's modularized, one platform approach extends

way beyond existing Contract Lifecycle Management to capture a vast array of

legal use cases across multiple jurisdictions."

"We are just scratching the surface of what we can do," said Sarvarth Misra,

Co-Founder and CEO of ContractPodAi. "The market is asking for a legal

platform, a technology infrastructure that supports in-house legal teams like

CRM does for sales teams or fintech for finance. With the backing of Insight

Partners, Eagle Proprietary Investments, and now SoftBank Vision Fund 2, we are

ready to win the market by driving digital transformation for our customers

with our One Legal Platform approach."

Existing investor, Eagle Proprietary Investments (Eagle), also doubled down on

their previous investments from ContractPodAi's Series A and Series B rounds.

Deval Dvivedi, Head of International for Eagle and ContractPodAi Board member

said, "ContractPodAi has seen a wonderful journey from the time of its Series A

funding and we are excited to continue supporting its growth story."

ContractPodAi is raising this funding round on the back of record-setting sales

quarters this year, including multiple global, enterprise-wide rollouts for

Fortune 500 clients. ContractPodAi also continues to show strength across key

performance metrics such as customer retention, while maintaining cost

efficiency. ContractPodAi has garnered global attention, including recently

being named a Visionary in the 2021 Gartner Magic Quadrant report for Contract

Lifecycle Management. The company is also the recipient of the 2021

International Business Awards Legal Company of the Year, the Edison Award and

the AI Breakthrough Award.

About ContractPodAi Technologies (ContractPodAi(R)):

Well-established as the leader in end-to-end contract lifecycle management,

ContractPodAi harnesses the unrivaled AI power of IBM Watson and Microsoft

Azure for leading corporations around the world. Now, the platform's robust,

intuitive, and easy-to-use capabilities have been extended to handle the

entire, end-to-end legal lifecycle - any use-case, any document type, any

scenario.

ContractPodAi Cloud amplifies your business's readiness through our

partnerships with complementary technology providers including IBM, Microsoft,

DocuSign, and Salesforce. ContractPodAi(R) is headquartered in London and has

global offices in San Francisco, New York, Glasgow, Chicago, Sydney, Mumbai,

and Toronto. More information is available at ContractPodAi.com. ContractPodAi

is the recipient of several awards and has been named a Visionary in the 2021

Gartner Magic Quadrant report for Contract Lifecycle Management.

Learn more about ContractPodAi at: https://contractpodai.com

Media Contact:

Seth Leavitt

Kickstand Communications

seth@meetkickstand.com

+1-(617)-791-7951

SOURCE: ContractPodAi