Major financing news today, as LinkSquares, the Boston-based company that provides an AI-powered contract management and analysis platform, said it has raised $100 million in Series C financing, less than a year after raising a $40 million Series B round, and bringing its total raise to $161.5 million at a current valuation of $800 million.
This latest round was led by G Squared, a global venture capital firm focused on growth-stage technology companies, with participation from new investor G2 Venture Partners as well as existing investors.
CEO Vishal Sunak
“Today’s investment marks a significant new phase in our company’s growth,” said Vishal Sunak, LinkSquares’ CEO. “Having worked with hundreds of the top CLOs and GCs in the country, we know that legal leaders are ready to take their seat at the table. But, they need insightful analysis extracted from data-driven tools to get there.
“CLM was the natural place to start. Over time, we aim to help legal leaders finally shed their reliance on single-point products, spreadsheets and email, all while continuing to surface the hidden data that is required to make informed decisions at the executive level.”
Related LawNext Podcast: With $40M Series B, LinkSquares CEO Sets Sights On The Impossible In Contracts Tech.
Founded in 2015, the company says it has more than 500 in-house legal teams as customers, including at such companies as Wayfair, DraftKings and Drift.
It will use this new funding to further advance its contract management offerings, while also modernizing tools in other areas of priority for CLOs, GCs and their teams, the company said.
“LinkSquares has built a bespoke AI solution for an arcane industry problem,” said Spencer McLeod, partner at G Squared. “We believe the company has a fundamentally superior technology stack that makes its offering one of the preeminent solutions for modern legal teams.”
LinkSquares’ core product, Analyze, provides post-signature contract analytics and a searchable contract repository, allowing companies to leverage AI to extract contract data to reduce risk, boost revenue and improve their businesses.
In June 2020, it launched the companion product Finalize, a pre-signature solution for drafting, review and approval of contracts. Three months ago, it rolled out an enhanced version of Finalize that extends the same AI that powers Analyze to the pre-signature stage, enabling AI-powered first-pass contract review.
