BOSTON—LinkSquares, a provider of the AI-powered SaaS contract management and analysis tool, announced that it has raised $14.5 million in Series A financing led by Jump Capital, the company said in a statement.
“This investment is a testament to the power of our product, incredible growth in 2019, and the innovation of our team. With LinkSquares, customers are tackling universal contract management problems that historically have kept their legal teams buried in countless manual tasks,” said Vishal Sunak, CEO of LinkSquares. “With our new and existing venture partners, I’m confident that today’s investment will enable us to help even more companies move beyond contract management struggles, and realign their priorities, processes and outcomes.”
New investor First Ascent Ventures and existing investors MassMutual Ventures and Hyperplane Venture Capital also participated in the round. The company has raised $21.4 million to date, and will use the financing to expand its engineering, sales and product teams, as well as build out its solution portfolio.
With more than half a million contracts under management, LinkSquares helps its hundreds of customers understand and better mitigate risks and liabilities in minutes, not months. With LinkSquares, customers have automatically extracted more than five million unique data points on parties, contract effectiveness date and other key legal terms. Companies such as DraftKings, Fitbit, Twilio, Asurion, VMware and Pendo rely on LinkSquares to elevate their internal value, reputation and productivity by eliminating time spent on manual and ineffective processes so they can protect their companies with confidence.
“LinkSquares is a great example of an enterprise AI use case leveraging advances in natural language processing technology to replace tedious and labor-intensive processes with elegant automation. Its world-class team developed a sophisticated AI-powered tool that is impressively accurate, fast and intuitive,” said Saurabh Sharma, partner at Jump Capital. “The potential for LinkSquares is huge, as in-house counsel and operational leaders begin to leverage LinkSquares to address pain points felt across the organization, from M&A to financing, sales and beyond.”
By capturing and analyzing every contract created and stored, from inception through a company’s evolution, LinkSquares gives legal teams and their constituents full visibility into their contract repository’s data, content and liabilities. The company’s technology gives midmarket customers a blend of proprietary quality assurance, ready-to-use artificial intelligence and powerful insights across a scalable platform to provide the fastest and most comprehensive post-signature tool on the market today.