Boston-based legal contract management startup LinkSquares is inching closer and closer to becoming a tech unicorn. Following a recent $100 million Series C funding round, it is now valued at $800 million.
Co-founded in 2015 by Vishal Sunak and Chris Combs, LinkSquares’ suite of products helps companies’ legal teams and counsels manage contracts using AI. It hopes to become the go-to platform for contract lifetime management solutions (CLM).
LinkSquares’ CLM suite consists of its Finalize and Analyze platforms. Finalize helps companies create custom contract drafts that can be easily modified before being signed by other parties. Analyse uses AI to give insight into post-signature contracts. The platform will scan over the contract for key data such as dates, terms and much more. LinkSquares’ suite also has integrations with services such as Salesforce and DocuSign which further streamlines the process of creating and signing contracts.
All this, according to LinkSquares, saves companies money and takes only a couple of days to set up.
“Having worked with hundreds of the top CLOs and GCs in the country, we know that legal leaders are ready to take their seat at the table. But, they need insightful analysis extracted from data-driven tools to get there,” Sunak said in a statement. “CLM was the natural place to start. Over time, we aim to help legal leaders finally shed their reliance on single-point products, spreadsheets and email, all while continuing to surface the hidden data that is required to make informed decisions at the executive level.”
To learn the needs of the industry, Combs and Sunak spoke directly with legal teams and built LinkSqaures’ solutions with their suggestions in mind. Today LinkSqaures has worked with companies such as DraftKings, Wayfair and Fitbit, and has processed over four million legal documents.
The latest funding round was led by G Squared, a San Franciso-based VC that has invested in other tech hotshots such as Instacart, Lyft, Spotify and 23andMe.
With the new capital, LinkSqaures is looking to advance its current CLM solutions while also developing new tools to aid legal teams and general counsels.
“LinkSquares has built a bespoke AI solution for an arcane industry problem. We believe the company has a fundamentally superior technology stack that makes its offering one of the preeminent solutions for modern legal teams,” Spencer McLeod, a partner at G Squared, said in a statement.
In addition to this Series C. LinkSquares raised a $40 million Series B last July and an additional $14.5 million in 2020.
