Digital contracting platform Ironclad has collected $50m in its Series C round.
Y Combinator Continuity led the investment round, which also received investments from Accel and Sequoia Capital. Following this burst of capital, the company has raised a total of $84m in equity funding.
In conjunction with the deal, Y Combinator Continuity CEO Ali Rowghani has joined the Ironclad board of directors.
Proceeds from the funding round will be used to support expansion across geographies and industries. It will also look to enhance its capabilities and improve contract data and processes.
Ironclad is a contract management platform which helps to automate various manual processes. Users can fast-track contract, create their own, unlock contract data, and improve editing and review.
The company has launched a new feature for legal teams which helps them improve efficiency. The Workflow Designer tool allows any user to create contract workflows to codify their business processes and adjust them whenever they need to.
In a blog post announcing the new product, the company said, “At Glassdoor, for example, Workflow Designer automates thousands of contracts and enables the legal team to design and deploy workflows in under two hours. Fitbit uses it to conduct mass-scale research for the first time. And at AppDynamics, Ironclad ensures compliance by making sure contracts can only get approved if they meet certain criteria.”
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