Total amount raised
$38.7M
Latest funding date
2018-10-30
Location
Concord has successfully raised $2.7 million in a single funding round, attracting significant investment from top investors like Cota Capital, WTI, and Alven Capital. The platform offers a free cloud-based contract lifecycle management solution, featuring unlimited e-signatures, storage, online collaboration, and AI-powered Agreement Intelligence.
What Is Concord?
Concord, founded by Florian Parain and Matt Lhoumeau, is a cloud-based contract lifecycle management solution. The company operates from San Francisco and Paris, offering a platform for creating, negotiating, signing, and managing contracts.
With a team of 51-200 employees, Concord provides features like unlimited e-signatures, storage, online collaboration, deadline alerts, and track changes. Thousands of businesses in 110 countries, including Bosch and Siemens, use Concord to streamline their contract processes.
Concord's mission is to simplify contract management, making it accessible and efficient for businesses of all sizes. The platform's AI-powered Agreement Intelligence enhances compliance and speeds up contract approvals and negotiations.
How Much Funding Has Concord Raised?
Concord has successfully raised multiple funding rounds to support its growth and innovation in contract lifecycle management. Here is a detailed list of each funding round:
- Extended Seed Round
- Amount Raised: $3.7 million
- Date: May 31, 2017
- Lead Investors: Alven Capital
- Participating Investors: Streamlined Ventures, Cota Capital, Tien Tzuo, Bruno Deschamps, Thibault Poutrel
- Motivation Behind the Round: To continue solving the challenge of reconciling speed and compliance in contract management, and to fund new executive hires.
- Series A
- Amount Raised: $10 million
- Date: January 4, 2018
- Lead Investors: CRV (Charles River Ventures)
- Participating Investors: Alven Capital
- Motivation Behind the Round: To scale the product and commercial teams during a hyper-growth phase and accelerate customer acquisition.
- Series B
- Amount Raised: $25 million
- Date: October 30, 2018
- Lead Investors: Tenaya Capital
- Participating Investors: CRV, Alven Capital
- Motivation Behind the Round: To further develop the CLM platform, grow engineering, sales, HR, and marketing teams, and expand internationally.
In total, Concord has raised at least $38.7 million based on disclosed funding across all rounds.
Key Investors
- Tenaya Capital
- Details: Tenaya Capital is a venture capital firm that led Concord's Series B round. Partner Paul Drews joined Concord's board following the investment.
- Investment Focus Areas: Technology, SaaS, Enterprise Software
- Notable Investments: Various enterprise and SaaS companies
- CRV (Charles River Ventures)
- Details: CRV is a leading venture capital firm that led Concord's Series A round and participated in the Series B. General Partner Murat Bicer represented CRV in the Series A.
- Investment Focus Areas: Technology, SaaS, Enterprise Software
- Notable Investments: Twitter, DoorDash, Zendesk
- Alven Capital
- Details: Alven Capital is a venture capital firm that led Concord's Extended Seed round and participated in the Series A and Series B. Partner Raffi Kamber represented Alven in the seed round.
- Investment Focus Areas: Technology, Consumer Internet, SaaS
- Notable Investments: Algolia, Dataiku, Drivy
- Cota Capital
- Details: Cota Capital is a venture capital firm that participated in Concord's Extended Seed round. They focus on providing growth capital to innovative technology businesses.
- Investment Focus Areas: Technology, SaaS, Fintech
- Notable Investments: Snowflake, DataRobot, Freshworks
- Tien Tzuo
- Details: Tien Tzuo is the CEO and Cofounder of Zuora, a leading subscription management platform. He participated in Concord's Extended Seed round as an angel investor.
- Investment Focus Areas: Technology, SaaS, Subscription Economy
- Notable Investments: Not specified
What's Next for Concord?
Concord stands at the cusp of significant opportunities, particularly in sectors like finance, construction, education, and healthcare. The platform's AI-powered features and real-time collaboration tools position it well to capture a broad market. As these industries increasingly adopt digital solutions, Concord's potential for growth is substantial.
Future fundraising efforts will likely focus on scaling operations and enhancing AI capabilities. However, the company may face challenges such as intense competition and the need for continuous innovation. Navigating these hurdles will be crucial for Concord to maintain its competitive edge and achieve sustained growth.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like Concord and gather other critical business insights. Sign up for free and unlock the potential to drive your sales strategy with actionable information.
