Investment helps scalability as Concord enters its subsequent section of hyper-growth
SAN FRANCISCO–(BUSINESS WIRE)–January 4, 2018–
Concord, a number one contract administration platform, right this moment introduced the closing of $10 million Series A funding. The spherical was led by CRV (Charles River Ventures) and joined by Alven Capital who led Concord’s seed spherical. The funding will likely be used to scale the product and business groups throughout this hyper-growth section.
“Our focus is at all times on working with distinctive groups who’re creating one thing distinctive with large market alternatives,” stated Murat Bicer, General Partner at CRV. “When we first met Concord, we have been very impressed with the standard of their product and the joy from their clients. We are wanting ahead to partnering with them as they construct the subsequent market chief in contract administration.”
“To have an investor like CRV be part of Concord is wonderful validation for our imaginative and prescient, and speaks to what we’ve been in a position to do when it comes to altering this market,” stated Matt Lhoumeau, CEO and Co-Founder, Concord. “We’re lucky to have unimaginable traders who convey steerage and perception to Concord and I can’t consider a greater addition than CRV.”
Concord has quickly gained market share within the estimated $5.5 billion contract administration house. Customers like Just Eat, Crédit Mutuel, and Stanford University create, negotiate, signal, and retailer contracts on Concord throughout greater than 130 international locations.
This funding is the newest in a string of bulletins for Concord, together with reaching 100,000 corporations on the platform and persevering with to convey on new government management to affix the founding group.
Concord joins different CRV notables Zendesk, Twitter, and Yammer in a portfolio led by one of the vital skilled groups in enterprise capital. CRV brings over 40 years of funding expertise and is at the moment investing out of their 16th fund, raised in 2014.
Founded in 2014, and headquartered in San Francisco, Concord allows 100,000 corporations across the globe to attach all of their folks, processes, and contracts in a single place. Built with intuitive options, like on-line negotiation and enhancing, deadline alerts, and approval workflows, Concord provides customers the whole lot they want for your entire contract lifecycle–making progress and compliance synonymous.
Travis Bickham, +1-844-693-7446
This article sources info from VentureBeat