Business contracting is often inefficient and messy, with approvals required from various stakeholders and many processes still paper-based. Ironclad is a platform that digitises, automates, and streamlines contract workflows, allowing legal teams to focus on legal work rather than paperwork. Ironclad’s platform features collaborative tools that facilitate business operations and extract and catalog contract metadata, making information easier to access and act upon. Its enterprise customers include Dropbox, Mastercard, Pixar, Fox, and L’Oréal.
Despite its success, Ironclad faces competition in the $3 billion contract lifecycle management industry from major players like DocuSign and emerging ones like Contractbook. The company recently announced Ironclad Signature, marking its entry into the $25 billion eSignature market. The new feature speeds up the signature process by an estimated 80% and provides summaries and approval histories to users. This new tool is expected to strengthen Ironclad's position in the sell-side contract lifecycle management market.
Additionally, Ironclad introduced value-based pricing, charging only for completed, signed agreements, unlike other providers who charge for every signature packet sent out. Ironclad, backed by investors like Accel, Sequoia, Y Combinator, and BOND, remains committed to innovating and maintaining its leadership in the contract lifecycle management space.
Kirsty
Company Specialist at Welcome to the Jungle
