Ironclad, a San Francisco, CA-based provider of a contract management platform that streamlines legal workflows, raised $23m in Series B financing.
The round, which brought total funding to date to $34m, was led by Sequoia Capital, with participation from existing investors Accel and Y Combinator. In conjunction with the funding, Sequoia partner Jess Lee joined Ironclad’s Board of Directors.
The company intends to use the funds to accelerate product development in key AI areas like smart contract intake and automated legal insights and accelerate expansion to meet demand from legal teams around the world.
Co-founded by Jason Boehmig, CEO, and Cai GoGwilt, CTO, Ironclad provides a software platform that automates contracting processes and extracts intelligence from contracts to allow legal teams to focus on legal work, rather than paperwork. The solution is used by legal teams at companies like Dropbox, HotelTonight, Glassdoor, and Procore.