Several ace investors such as Insight Partners, Eagle Proprietary investments, others have infused $55 million in an AI-powered contract lifecycle management software ContractPodAi through its series B round of funding.
The platform ContractPodAi will be utilizing the funds towards business expansion, and to build its global technology R&D centre out of Mumbai. The centre’s focus will be on building best in class technology innovations in the legal technology sector, especially on leveraging AI technology.
Sarvarth Misra, Co-founder and CEO of ContractPodAi, said, “This is a truly exciting time for the legal technology sector – we are on the cusp of the legal sector’s very own industrial revolution. We are hugely passionate about building platforms that help lawyers do their jobs more effectively and allow them to focus on what they love doing. Our solution is customer-focused and our team has both the legal and tech experience needed to disrupt the legal world and unlock added value.”
Founded in 2012, ContractPodAi’s supports research, software development, system maintenance and contract migration services, managed by lawyers.
The company is a leading end-to-end solution for all three aspects of contract management: contract generation, contract repository, and third-party review.
ContractPodAi technology uses AI to streamline all areas of the contract management process, massively reducing the burden on corporate in-house legal.
“Today, India is witnessing a boom in AI. Educational institutions are promoting bachelor degrees in Artificial Intelligence and the government is using leading technologies to create a digital map for its future. Indeed, it is an exciting time to be a part of this revolution,” says Sarvarth.