Ironclad, a San Francisco-based startup accelerating the contracting process while ensuring compliance and making contracts vital drivers of operational business intelligence, has raised US$ 150 million in a Series E funding round led by Franklin Templeton Investments on 18 January 2022.
Investors: The latest investment round featured Franklin Templeton Investments as the lead investor with participation from Sequoia Capital, Bond, YC Continuity, Lux Capital, Haystack, Emergence and Accel. The startup has managed to raise, in total, US$ 344 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to stimulate product innovation and broaden its digital contracting platform.
About Ironclad
Brought to existence in 2014 by Jason Boehmig and Cai GoGwilt, Ironclad works towards revolutionising the contract process by automating approvals and workflows. Its solution comprehends vital terms and entities on its own, transforms contracts into code, and enables customers to explore, tag, and handle their contracts. The firm permits operations, legal, and sales teams to rationalise building, storing, and capitalising contracts like intelligence assets. Some of the leading firms employing Ironclad’s solution include L’Oréal, Staples, Mastercard and others. Ironclad became one of the 20 rising stars on the Forbes 2019 Cloud 100 list. It was named a leader on the Forrester Wave for Contract Lifecycle Management.
What the Founder has to say: “Till now, we have concentrated on customer’s digital contracting journey, building an optimised product for B2B contracts that links individuals to systems and finally data. Our next growth phase will primarily focus on broadening the user experience into an interface which links business contracting systems across the enterprise.”- Jason Boehmig, CEO and Co-Founder of Ironclad.
What the Investor has to say: “Our several years’ long analysis showcases Ironclad as a significant player in the digital contracting domain. Other firms are delivering just parts of the product, which Ironclad offers. The company has become a pioneer with regard to its product innovation, vision, and team’s proficiency. It’s exhilarating to join hands with Ironclad and assist them in developing a robust platform serving every B2B contracting purpose.”- Ryan Biggs, Managing Director at Franklin Venture Partners. “Ironclad’s vision of the digital contracting platform has become a reality. The firm has dramatically changed the way its customer perform contracting and is on the verge of revolutionising contracting for every enterprise.”- Ali Rowghani, Managing Partner at YC Continuity.
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