Ironclad Raises $150 Million Series E

<p><strong><span class&equals;"xn-location">SAN FRANCISCO <&sol;span><&sol;strong>&&num;8212&semi; <u>Ironclad<&sol;u>&comma; a digital contracting platform&comma; has raised <span class&equals;"xn-money">&dollar;150 million<&sol;span> in Series E financing&comma; bringing total investment to <span class&equals;"xn-money">&dollar;333 million<&sol;span>&period; <span class&equals;"xn-person">Franklin Templeton<&sol;span>&comma; a global investment management firm&comma; is leading the round&period; The 100&percnt; insider round also includes previous investors like BOND&comma; YC Continuity&comma; Emergence&comma; Lux&comma; Haystack&comma; Accel&comma; and Sequoia Capital&period; Ironclad will use the funding to fuel product innovation and scale its digital contracting platform&comma; which is the standard of choice for innovative organizations around the world&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We&&num;8217&semi;ve been following the digital contracting space for years&comma; and Ironclad is the clear leader&comma;&&num;8221&semi; said <span class&equals;"xn-person">Ryan Biggs<&sol;span>&comma; Managing Director of <span class&equals;"xn-person">Franklin Templeton&&num;8217&semi;s<&sol;span> Franklin Venture Partners&period; &&num;8220&semi;Other players have some components of the solution&comma; but only Ironclad has the whole package&period; They are leading the field when it comes to vision&comma; product innovation&comma; and team&comma; and we&&num;8217&semi;re excited to partner with them to build the dominant platform for all business-to-business contracting&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Founded in 2014&comma; Ironclad is the preferred contracting solution for innovators ranging from Fortune 500 companies&comma; like L&&num;8217&semi;Oréal and Mastercard&comma; to industry vanguards like Texas Rangers Baseball Club and Snap&period; These innovative companies use Ironclad to turn contracts from business blockers to accelerators&comma; and to unlock the data trapped inside contracts into operational insights that power the entire business&period;<&sol;p>&NewLine;<p>Mastercard&comma; for example&comma; uses Ironclad to free up strategic bandwidth and resources&period; Mastercard&&num;8217&semi;s VP and Lead Counsel for US Markets&comma; <span class&equals;"xn-person">Anushree Bagrodia<&sol;span> says&comma; &&num;8220&semi;If we didn&&num;8217&semi;t have Ironclad&comma; we wouldn&&num;8217&semi;t have seen such capacity freeing up for our lawyers and our business&period;&&num;8221&semi; And Texas Rangers&comma; a Major League Baseball club&comma; uses Ironclad to unlock contract metadata that has enabled them to stay agile during COVID&period; &&num;8220&semi;We were able to leverage the dataset that Ironclad provided us to pull all of the individual contracts we had and take a holistic view of what we had signed and what could be impacted by COVID&comma;&&num;8221&semi; explains <span class&equals;"xn-person">Katie Morgan<&sol;span>&comma; VP of Business Analytics at Texas Rangers&period; &&num;8220&semi;Frankly&comma; we wouldn&&num;8217&semi;t have survived COVID&comma; but for that&comma;&&num;8221&semi; says Executive Vice President and Chief Financial Officer of Texas Rangers&comma; <span class&equals;"xn-person">Kellie Fischer<&sol;span>&period;<&sol;p>&NewLine;<p>Unlike other popular contract lifecycle management solutions&comma; Ironclad was built on modern software design principles and is walk-up usable without training&comma; easy to implement&comma; and collaborative&period; As the only solution on the market with a completely self-service workflow designer and 100&percnt; DOCX-native&comma; browser-based editor&comma; Ironclad is uniquely able to meet the needs of remote organizations in our post-COVID world&period;<&sol;p>&NewLine;<p>Yet <span class&equals;"xn-person">Jason Boehmig<&sol;span>&comma; CEO and co-founder&comma; says this is just the beginning&period; &&num;8220&semi;So far&comma; we&&num;8217&semi;ve focused on the core digital contracting experience&colon; the standardized system for business-to-business contracts that connects people to systems and ultimately&comma; data&comma;&&num;8221&semi; he explained&period; &&num;8220&semi;This next phase of growth will be about expanding that experience into a platform that connects business contracting processes across the organization&period;&&num;8221&semi;<&sol;p>&NewLine;