SimpliContract, an enterprise contract lifecycle management (CLM) platform, on Wednesday announced that it has closed its pre-Series A funding round at $3.5 million led by Emergent Ventures.
The funding also saw the participation of Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures, and Sentinel Ventures.
In a statement, SimpliContract said the funds will primarily be used to fuel their growth and expansion in the US and European markets, with a focus on investing in sales and marketing.
“With digitisation and automation taking centre stage, CLM is no longer a ‘good to have’ but a ‘must-have’ for enterprises. We’ve seen a considerable uptake for our CLM platform on the basis of its maturity, versatility, and unique features compared to contemporaries in the market,” said Guru Venkatesan, Co-founder & CEO of SimpliContract.
Founded in 2020, SimpliContract helps in-house legal, sales, finance, and procurement teams simplify processes across the contract lifecycle and enable real-time collaboration for internal and external stakeholders. The platform caters to over 20,000 enterprise users currently, with a total contract value of $30 billion under management.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from April 8-12, 2023.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| SimpliContract | Bengaluru | 3,500,000 | Pre-Series A | Emergent Ventures | Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures, Sentinel Ventures | Software | SaaS |
| Alphasense | Pune | 100,000,000 | Series D | CapitalG | Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), Viking Global Investors | Software | AI and Machine Learning |
| Celcius | Mumbai | 12,000,000 | Series A | IvyCap Ventures, Mumbai Angels | Supply Chain Labs, Endurance Capital, VCats, Keiretsu Forum, Huddle | Logistics/Distribution | N/A |
| Mayhem Studio | Bengaluru | 20,000,000 | Series A | Sequoia Capital | Truecaller, Steadview Capital, Bing Gordon, Kleiner Perkins | Travel & Leisure | eSports |
| Raptee | Chennai | 398,780 | Grant | Automotive Research Association of India (ARAI) | – | Automobiles Other Vehicles & Parts | Electric/Hybrid Vehicles |
| WLDD | Bengaluru | 1,250,000 | Seed | Negen Capital | – | Marketing/Advertising | Sales & Marketing Software |
| Officebanao | Gurugram | 6,000,000 | Seed | Lightspeed India Venture Partners | – | Software | Real Estate Tech |
| RAS Luxury Oils | Raipur, Chhattisgarh | 1,500,000 | Pre-Series A | Green Frontier Capital | – | Consumer Products | Beauty & Hygiene |
| Stylework | Gurugram | 2,000,000 | Series A1 | Capriglobal Holdings, QI Ventures | WFC, iAngels Network, Sateeq Invest, Impactful Pitch | Real Estate Development & Operating Company | Real Estate Tech |
| LightMetrics | Bengaluru | 8,500000 | Series A | Sequoia Capital India |