LinkSquares Raises $14.5M to Make Contract Management Easier

LinkSquares, a Boston-based company that aims to help legal and finance departments better understand business contracts, announced Wednesday it closed on a $14.5 million Series A round led by Jump Capital, bringing its total funding raised to more than $21 million.

The startup’s software was designed to make contract review more efficient, helping companies understand and mitigate risks more quickly. Using AI, the tool captures and analyzes contracts and then creates a repository of important information buried within it. Users can then perform everything from full-text searches to advanced multi-query filtering within their documents.

“The value that we’re providing is the ability for legal teams to get access to all this information, avoiding really painful manual contract review, which is what they’ve been doing historically,” LinkSquares CEO and co-founder Vishal Sunak told Built In. “This is a painful problem that most companies have left unsolved, they didn’t even think it could be solved. Now, with our technology and our software, it can be.”

LinkSquares claims to have managed more than half a million contracts for companies like Fitbit, Twilio and DraftKings. Sunak says the company has been particularly successful in the last year.

“Legal as a function is usually the last department inside of a company to really be the beneficiaries of technology disruption and evolution,” Sunak explained. However, he says there’s been an emergence of legal operations teams that implement new tech to make their department more efficient.

“That, coupled with the uniqueness that we have and the fact that our technology is now the fastest and most accurate contract analytics on the market, we’ve seen all of those things collaborate at the right time in 2019.”

Sunak says LinkSquares will be working with Jump Capital to expand the platform’s capabilities and help even more companies with their contract management struggles. The company will also be bringing its current headcount of about 65 up to 100 by the end of this year, hiring “across the board” in areas like machine learning, full stack development and sales.