16th January 2018
16th January 2018
January 16, 2018, London, UK: ContractPodAi®, leading provider of AI-driven contract management systems, reports a year of strong growth for the preceding 12 months having completed its evolution from a legal support service provider to pure legal tech SaaS player.
Annual Recurring Revenue (ARR) increased by over 500% during the period, an acceleration on the previous year and represented by some 30 new client signings, including household name brands.
Artificial Intelligence has been central to ContractPodAi®’s development and the business plans to upgrade all its global customer base onto the AI platform by the end of 2018.
A series of ground breaking new initiatives throughout 2017 were spearheaded by the launch of “E:V”, the world’s first artificially intelligent contract analyst, powered by IBM Watson. More recently, in a move to extend its usability and scale among organisations that use Salesforce, ContractPodAi® released its contract management application on the Salesforce platform.
The ContractPodAi® Salesforce Application is available as a standalone product alongside the existing contract management solution and enables multi-disciplinary users to access its powerful contract automation functionality, broadening its reach as a “front door” to the legal department.
“The growth numbers are truly remarkable and a testament to the full team here at ContractPodAi®. They have over-delivered on the metrics set to them for the past 12 months. More strategically significant is that our growth trajectory resonates with a fast-growing trend among the in-house counsel community; Embracing legal technology as an enabler of their own transformation journey. This tectonic shift towards technology becoming strategically more important to in-house counsel is clearly now evident, and it’s here to stay!
“Apart from making headway in terms of new business growth, our user adoption record has remained consistently above all market averages and we have seen growth within our existing client base. We have also stuck to our plans to predominantly focus our offering to in-house legal departments, differentiating us from majority of the fast- growing legal AI players in the market that position themselves more towards a law firm solution offering.”
Sarvarth Misra, Founder and Co-CEO, ContractPodAi®
“We are alone in being able to offer such a breadth of functionality out of the box. Crucially we’re able to make this affordable and accessible to all legal teams, thanks to our transparent pricing plan.
“It means our tech is available to organisations of all sizes in all sectors. Not only do they find our solution logical and easy to use, but understand up front exactly what they’re going to get in terms of functionality and at what cost.”
Jon Squire, CMO, ContractPodAi®
ContractPodAi empowers your team to assemble, send, sign and approve all kinds of contracts – from NDAs to sales contracts – anywhere, anytime and using any device.
Automated contact & document assembly
Highly configurable approval workflows
Central collaboration & negotiation
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