SimpliContract raises $1.8M in a seed round led by Kalaari Capital

SaaS News -SimpliContract-raises-$1.8-million(source: SaaS Industry)
At a Glance

Kalaari Capital leads a $1.8 million seed round for SimpliContract. It democratizes contract authorship with artificial intelligence (AI) and natural language processing (NLP). From contract requests to renewal, the platform assists businesses. Over 4,000 business users utilize the AI-powered platform, which handles 30,000+ contracts worth over $2 billion.

SimpliContract, an AI and SaaS-based contract lifecycle management (CLM) platform, has raised $1.8 million in a seed round funding led by Kalaari Capital. Other participants include Picus Capital, Arka Venture Labs, and Digital Sparrow Capital. 

This fund will support the startup’s engineering, AI research, and marketing activities.

SimpliContract, founded in early 2020 by Guru Venkatesan, Jinaraj PG, and Makesh Kumar, uses AI and natural language processing (NLP) to democratize contract authoring and build robust post-signature contract management processes.   

The Bengaluru-based platform assists businesses throughout the contract lifecycle, from request to renewal, and allows internal and external parties, such as vendors and customers, to collaborate effectively.

We are seeing significant interest and adoption in the market within a few months of launch. SimpliContract’s AI-driven platform supports over 4,000 enterprise users and manages 30,000+ contracts worth over $2 billion in value. Organizations are seeing value in a user-centric interface, AI capabilities, and agile integrations, and we are committed to delivering on all these.

Mr. Venkatesan, CEO of SimpliContract

SimpliContract interacts effortlessly with business systems and gives meaningful information to users across procurement, sales, and legal activities, thanks to its configurable and intelligent processes. As a result, it aids businesses in reducing contract cycle times, lowers risks, enforces compliance, manages and fulfills responsibilities, and efficiently adapts to an ever-changing regulatory environment.

Ravinder Singh, Partner at Kalaari Capital, “90 percent of global enterprises and 50 percent of mid-sized organizations will have CLM solutions in place by 2023. The global CLM market is expected to grow from $1.5 billion to $5.2 billion by 2027. We believe that the AI-powered CLM platform of SimpliContract will drive and ride this growth.”

SimpliContract has a unique vision to bring workflow automation, collaboration, and intelligence into contract lifecycle management which results in clear efficiency gains and more informed decisions; for their clients.

Florian Reichert, Partner at Picus Capital
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