Top 10: Contract Management software
Updated: March 30, 2023
Some of the most popular contract management software options are listed below.
See also: Top 10 ECM software
See also: Top 10 ECM software
2022. LexCheck raises $17M to automate common contracting processes
LexCheck, an AI-powered contract analysis platform, closed a $17 million Series A. LexCheck uses AI, including natural language processing, to support processes around editing and negotiating contracts. The platform attempts to standardize the contract negotiation process, providing organizations with digital playbooks that automate contract reviews by delivering redlines (i.e. edits), comments, insertions and deletions and automatically escalating deviations from “playbook-preferred” positions.
2022. Juro draws $23M into its browser-based contract automation platform
London-based legaltech startup Juro has grabbed $23 million in Series B. The startup has focused on disrupting the use of legacy tools like Word and PDFs for contracts — offering a dedicated, browser-based contract builder platform, rather than merely creating a cloud-based work flow for moving files around. It's bringing contracts out of Word and into a custom-built, browser-native editor. This editor is highly modular and integrates seamlessly into a company’s tech stack. In the same way that developers use GitHub or designers use Figma to collaborate, in Juro you can process contracts from creation through to signature without ever leaving your browser. In this regard, we really see our main competition as MS Word.
2021. Zoho introduced contract management software - Zoho Contracts
Zoho Contracts is Zoho’s take on contract lifecycle management (CLM). Its extensive library of predefined contract templates, and the ability to create custom templates makes contract authoring a breeze. In Zoho Contracts, admins can set up approval workflows—both sequential and parallel—and associate them with contract types. Approvers can add contextual comments in the documents and approve or reject them. Unlike the traditional approach, where you send contract documents back and forth as email attachments, Zoho Contracts allows you to provide controlled access to counterparty contacts, via password-protected links. Besides, Zoho Contracts comes pre-integrated with Zoho Sign (esignature software), making this crucial stage of the contract lifecycle quick and effortless.
2020. SirionLabs raises $44M to scale its contract management software
SirionLabs, a startup that provides contract management software to enterprises, has raised $44 million. The eight-year-old startup, which was founded in India, has raised $66 million to date. A significant number of companies today handle contracts manually with different teams within an organization often dealing with the same entity, which leads to discrepancies in their promises. Teams work in silos and often don’t know the terms others in the organization have already agreed upon. SirionLabs uses artificial intelligence and natural language processing to connect the dots between contracts and what happens after the contract has been signed. SirionLabs today hosts contracts in over 40 languages for more than 200 of the world’s largest companies including Credit Suisse, Vodafone, EY, Unilever, Abbvie, BP, and Fujitsu.
2020. DocuSign acquires Seal Software for $188M to enhance its AI chops
Contract management service DocuSign announced that it is acquiring Seal Software for $188 million. Seal Software was founded in 2010, and, while it may not be a mainstream brand, its customers include the likes of PayPal, Dell, Nokia and DocuSign itself. These companies use Seal for its contract management tools, but also for its analytics, discovery and data extraction services. And it’s these AI smarts the company developed over time to help businesses analyze their contracts that made DocuSign acquire the company. This can help them significantly reduce their time for legal reviews, for example.
2019. Ironclad raises $50M for its digital contracting platform
Ironclad, a startup that makes it easier for legal teams to manage their contracts workflow, has raised a $50 million Series C. In addition to the new funding, Ironclad announced the launch of its Workflow Designer. This tool allows teams to easily create their own custom workflows based on their individual business processes and timelines. Setting up those workflows looks be a pretty straightforward process. After tagging the existing contract, teams can then set up their processes based on what’s in a specific document. If a contract is over a specific value, for example, they can add a payment clause, or set up an approval process based on that value.