Total amount raised
$334 Million
Latest funding date
1/1/2022
Location
Ironclad has successfully raised funds over seven rounds, with the latest being a Series E round. The company is backed by 26 investors, including notable names like Franklin Templeton and Bond.
Ironclad's platform, an AI-driven Contract Lifecycle Management software, is designed to streamline and automate the entire contract process. Keep reading to explore the intricacies of Ironclad's fundraising journey and the investors backing this innovative platform.
What Is Ironclad?
Ironclad, based in San Francisco, California, is a prominent player in the AI-driven Contract Lifecycle Management (CLM) software industry. The company operates in sectors such as Enterprise Software, Legal Tech, Management Information Systems, and SaaS.
With a workforce of 501-1000 employees, Ironclad offers a comprehensive platform that automates and optimizes the entire contract lifecycle. The company's solutions are designed to streamline contract management processes, reduce legal risks, and support business growth.
How Much Funding Has Ironclad Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Ironclad's digital contracting platform.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin market entry.
- Series A
- Amount Raised: USD 8,000,000
- Date: August 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the product offering.
- Series B
- Amount Raised: USD 23,000,000
- Date: January 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and expand market reach.
- Series C
- Amount Raised: USD 50,000,000
- Date: September 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and scale operations.
- Series D
- Amount Raised: USD 100,000,000
- Date: December 2020
- Lead Investors: Bond
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To scale the business and enhance the product offering.
- Series E
- Amount Raised: USD 150,000,000
- Date: January 2022
- Lead Investors: Franklin Templeton
- Valuation at Round: USD 3,200,000,000
- Motivation Behind the Round: To fuel product innovation and scale Ironclad's digital contracting platform.
Total Amount Raised: USD 334,000,000. Current Valuation: USD 3,200,000,000.
Key Investors
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization. They offer a wide range of investment solutions, including mutual funds, ETFs, and alternative investments.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: OneTrust, Gong
- Bond
- Details: Bond is a venture capital firm that invests in technology companies at various stages of growth. The firm was founded by Mary Meeker.
- Investment Focus Areas: Technology, innovation, high-growth companies
- Notable Investments: Spotify, Square, Airbnb
- Y Combinator (YC Continuity)
- Details: YC Continuity is a growth-stage investment fund by Y Combinator. It focuses on supporting Y Combinator alumni companies.
- Investment Focus Areas: Growth-stage companies, platform approaches, industry transformation
- Notable Investments: Airbnb, Dropbox, Stripe
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that partners with founders to build enduring companies. They have a long history of successful investments in the technology sector.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, WhatsApp
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Software, internet, mobile
- Notable Investments: Facebook, Dropbox, Slack
What's Next for Ironclad?
Ironclad stands at the cusp of significant opportunities, driven by its recent $150 million Series E funding. The company aims to expand its digital contracting platform, connecting business processes across organizations and leveraging AI to streamline contract management. With a valuation of $3.2 billion and a growing customer base that includes Fortune 500 companies, the potential for growth is substantial.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Franklin Templeton and Sequoia Capital. Ironclad's focus on product innovation and scaling its platform globally could attract additional investments or even lead to an IPO. However, the company must navigate challenges such as competition from other contract lifecycle management solutions and the need to maintain user-friendly, scalable technology.
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