As the market for legal technology booms, ContractPodAi Technologies said on Thursday that it has raised a $115 million Series C investment, joining a long list of other startups in the field.
The growth round for London-based ContractPodAi, a platform for managing contracts powered by artificial intelligence, was headed by SoftBank Vision Fund 2.
ContractPodAi will prioritize accelerating the expansion of its ContractPodAI Cloud business in order to offer in-house corporate legal teams a multi-application solution for their technology demands. The valuation of ContractPodAi increased five times from its previous Series B financing in 2019 in this most recent round.
The money raised will be used to advance ContractPodAi’s platform capabilities and broaden the company’s market reach while utilizing SoftBank’s networks to seize new possibilities in the APAC region. One of the fastest-growing SaaS industries, legal technology, is now the first sector that Vision Fund 2 has invested in.
Features Of The Contractpodai
The platform provides quick, easy, and intuitive ways to scale highly customized solutions for in-house teams’ regular legal needs. The platform uses an inbuilt tool set of AI features for each use case, including document review, cognitive search, and advanced analytics, across both pre-built apps and customized applications.
Customized AI data models that have been customized to each module’s goal are included in pre-built applications.
Nearly every corporate activity depends on legal engagement or knowledge. The next stage of the digital revolution will be in the legal sector, and ContractPodAi is leading the way.
Strategies Of ContractPodAi
With the introduction of a new platform earlier this year, the company, which has a reputation as a player in the contracts sector, went beyond contract lifecycle management and now enables in-house legal teams to handle all types of cases.
Big investors are drawn to the capability of developing applications that address a number of problems for in-house counsel.
Working Of The ContractPodAi
ContractPodAi is committed to assisting in-house counsel with any legal task they need to complete, including compliance requirements, buy- and sell-side contracting, and corporate governance. The legal transformation team at ContractPodAi is highly skilled and can design solutions to fit any company’s procedures and playbook.
Legal procedures have mainly avoided change despite the inexorable digitization of the workplace, according to SoftBank Investment Advisers investor Ayush Jain.
With the use of ContractPodAi’s technology, in-house legal experts will be able to significantly enhance business performance, such as accelerating revenue recognition, boosting compliance adherence, and streamlining operational operations.
We think that the business’s modularized, the single-platform strategy goes well beyond current Contract Lifecycle Management to embrace a wide range of legal use cases across numerous jurisdictions.
ContractPodAi is still performing well in terms of important performance indicators like customer retention while retaining cost-effectiveness. Global recognition for ContractPodAi includes most recently being recognized as a Visionary in the Gartner Magic Quadrant Study for Contract Lifecycle Management for 2021.
With the addition of handling the complete, end-to-end legal lifecycle, including any use case, any document type, and any situation, the platform’s powerful, intuitive, and simple-to-use capabilities have been expanded.