Malbek, a Somerset, N.J.-based provider of cloud modern contract lifecycle management (CLM) software, closed a $3m funding round.
The round was led by Osage Venture Partners.
The company intends to use the funds to continue to invest in product innovation, including AI and advanced technologies, grow sales and marketing and add to customer experience team.
Founded by Matt Patel (COO), Hemanth Puttaswamy (CEO) and Madhu Poolu (CTO), Malbek is a provider of cloud-based contract management solutions for business users to take control through self-service configurability. Its proprietary artificial intelligence (AI) engine and search and filter capabilities enable Sales, Legal, Finance, and Procurement to harness the insights found in contract data and accelerate deal cycles and protect profit margins.