ContractRoom, the creators of the first-to-market, singular software solution to automate the entire negotiation and contracting process for enterprises, said Thursday it has completed its angel investment round totaling $850,000. Investors include entrepreneurs and leaders in the legal, finance, healthcare, real estate and tech industries, such as Parker Thomson, former partner at Hogan Lovells, Edward Matthews, a former finance executive, and Juan Benitez, a ContractRoom advisor and investor.
This new financing will be used to further accelerate product development and fuel sales and marketing activities, the company said. ContractRoom previously raised a seed round of $375,000, bringing its total investor financing to more than $1.2 million.
“Currently, the enterprise software landscape is fragmented and overlooks the critical negotiation space. This creates a gap in the automation of the contracting process,” Emil Stefanutti (pictured here), ContractRoom’s founder and chief executive officer, said in a news release. “ContractRoom’s patent-pending technology fills that gap by automating the entire contracting process, not just a small piece of it, like e-signature and authoring tools, or storage solutions. ContractRoom has a big vision.“
ContractRoom is a cloud-based platform, offered as SaaS, with different subscription packages, starting at $29 per month. Subscriber counterparties invited to a Contract Room use the software for free.