SpringCM, a Chicago, IL-based sales contract management solution for Salesforce customers, received $17.5m in funding.
Backers included Foundation Capital, North Bridge Venture Partners, Bluestem Capital and Square 1 Financial, as well as new financial partners Panorama Partners and Wellington Financial.
The company intends to use the funds to continue to innovate at an accelerated pace being currently on track to deliver six new product releases this year.
Led by Greg Buchholz, CEO, SpringCM provides a sales contract lifecycle management (CLM) platform that streamlines contract processes for sales and legal teams. The cloud solution, which manages sales contracts and all types of documents across desktop, mobile and partner applications like Salesforce, More than 600 companies, including Anaplan, athenahealth, BCBS and the USDA, use SpringCM.