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Malbek, an AI-powered contract lifecycle management (CLM) platform, has announced a $15.3M Series A round led by Noro-Moseley Partners. The funds will accelerate the company’s proprietary, patent-pending AI product innovations and expand into new markets.
Malbek, an AI-based contract lifecycle management (CLM) platform, has announced that it has raised $15.3 million in a Series A funding round led by Noro-Moseley Partners. Other participants include TDF Ventures and Osage Venture Partners.
The funds will be used to accelerate the company’s proprietary, patent-pending AI product innovations and continue expanding across multiple industries, and bringing contracting efficiencies to businesses of all sizes.
This investment unlocks our next stage as a company and enables us to empower more business users to get deeper, more actionable contract data insights that will ultimately save organizations valuable time, reduce risk, and accelerate topline revenue.Hemanth Puttaswamy, CEO and Co-founder of Malbek
Malbek is the proven, next-generation CLM made for everyone. Our modern solution is trusted by Fortune 500 customers and other large enterprise teams, as well as many small to mid-sized high-growth organizations, to unite Legal, Sales, Finance, and Procurement teams to take the hassle out of the entire contract process, from pre to post-signature and every step in between.Hemanth Puttaswamy, CEO and Co-founder of Malbek
Contract management pitfalls, such as missed contract milestones, erode 9.2 percent of revenue annually. Understanding these market gaps, Malbek was founded to provide next-generation contract management that both delights the user and accelerates ROI. Malbek has proven itself as a trusted contract management solution provider for global customers across multiple industries in a very short period of time, increasing sales nearly 500 percent year over year and subscription revenue exponentially.
Malbek leads the way in the CLM space as evidenced by the company’s sales win rate versus alternative solutions. Malbek modernizes real-world contract management at scale while providing more insights into contract data that could be easily missed during review. We are confident in the team’s ability to expand their success and grow their already impressive, happy customer base.John Ale, a partner at Noro-Moseley Partners
The Malbek platform is used by large global organizations in various industries, including TIBCO Software Inc., Momentive (formerly SurveyMonkey), EDF Renewables, Pantheon, Rothman Orthopaedic Institute, and others, allowing contracting teams to achieve higher efficiencies and increased productivity in contracting processes.