Earlier this month, ContractPodai, a legal-tech startup, announced that they had received an investment from SoftBank’s Vision Fund II, an investment that will be used to expand their global presence and product lines. The company’s robust, intuitive, and easy-to-use capabilities are expected to enable them to enter new markets and use cases, as well.
SoftBank’s Vision Fund 2 invests in legal-tech startup
Earlier this month, SoftBank’s Vision Fund 2 made its first legal-tech investment. The investment is in the AI-powered ContractPodAi, which is an AI-powered contract lifecycle management platform that helps companies automate contract management. It also provides a platform for in-house legal teams to manage contracts. It is one of the fastest-growing verticals in the SaaS space.
ContractPodAi’s capital will be used to expand its international presence. It will also be used to accelerate its platform capabilities. Its latest funding round is led by SoftBank and Noro-Moseley Partners. The company’s valuation quintupled since its last round in 2019.
Ayush Jain, who manages SoftBank’s Investment Advisers, will join the ContractPodAi board. He will also serve as the fund’s general counsel. The investment follows on from SoftBank’s bets in Aculys Pharma and AI Medical Service Inc.
Platformization strategy could see use cases in new markets
Having a digital platform is becoming a necessity. It opens up new markets, increases customer participation, and allows companies to meld their services. However, it is not as simple as creating a website.
To build a successful platform, you’ll need to devise a strategy that fits into your organization’s culture. One strategy is to leverage the platform as a means to attract new partners, customers, and employees. This can also help to reduce costs.
The best platform for your business might be a double-sided platform that brings buyers and vendors together. This can help reduce marketing and other costs. It might also help you to connect with other business ecosystems to create new forms of existing value.
Platform thinking is a general concept that is applicable to other industries. It is also an enigma to many organizations. It is best to have a clear definition of your goals and objectives.
Winner of 2021 International Business Awards Legal Company of the Year
Taking home the trophy for best Legal Company of the Year is ContractPodAi. The AI-powered contract lifecycle management company is one of the fastest-growing SaaS categories and has received a number of accolades for its work. It has also completed multiple global enterprise-wide rollouts for Fortune 500 clients. It is also a recipient of the AI Breakthrough Award and an Edison Award.
A recent $115 million investment by the visionary that is SoftBank, will enable ContractPodAi to expand its reach beyond the US. The investment will also help the company to accelerate the capabilities of its flagship platform and leverage its global networks. The company plans to use its newfound funds to expand its market footprint in the APAC region. Also on board for the ride is Ayush Jain, an executive vice president at SoftBank Investment Advisers.
Founded in 2012 by lawyer turned entrepreneur Sarvarth Misra, ContractPodAI provides an AI-powered contract lifecycle management platform. The company’s no-code interface helps legal teams tackle a variety of legal tasks, from contract management and contract analytics to intellectual property portfolio management and request for proposals. The company’s technology can also be used for litigation management and data protection compliance. ContractPodAI’s customers include Bosch Siemens, IBM, Microsoft, and DocuSign.
In September, ContractPodAI raised a Series C round of $115 million. The investment was led by SoftBank Vision Fund 2, a fund established by Japanese conglomerate SoftBank. The investment was followed by a $55 million Series B round in July. The Series C round saw Eagle Proprietary Investments participate and contributed to the company’s valuation. The company declined to disclose its valuation, but it was said to be five times higher than its Series B round in 2019. It also announced that Ayush Jain, investor for SoftBank Investment Advisors, would join its board of directors.