SimpliContract, a Bengaluru, India-based AI and SaaS-based contract lifecycle management (CLM) platform, raised $1.8M in seed funding.
The round was led by Kalaari Capital with participation from Picus Capital, Arka Ventures, and Digital Sparrow Capital.
The company intends to use the funds to expand its engineering, AI research, and marketing efforts.
Founded in early 2020 by Guru Venkatesan, Jinaraj PG, and Makesh Kumar, SimpliContract provides an AI and SaaS-based contract lifecycle management platform for organizations to accelerate revenue recognition, lower legal operations costs, reduce contractual penalties and enable control over business operations and bottom line.
The platform, built with customizable and intelligent workflows, integrates with enterprise applications and provides actionable insights to users across procurement, sales, and legal functions.
SimpliContract currnetly supports over 4,000 enterprise users and manages 30,000+ contracts worth over $2B in value.