Currently the fastest-growing contract management platform on the market, Concord has secured $25 million in Series B funding with the help of previous investors Alven and CRV, as well as a new investor Tenaya Capital, to continue transforming how businesses operate.
This new round of funding happens after the company announced 300% YoY revenue growth and a doubling of its enterprise customer base in 2018. Kickstarter, Newell brands, Barracuda Networks, Bitdefender, Rent the Runway, and Sizzling Platter are among the 180,000 companies that are using the Concord platform.
Concord provides a collaborative, intelligent environment where business contracts can be managed, driving collaboration across an organization’s legal, finance, procurement, and sales teams. With all parties and documents centralized, the friction and visibility issues that are often associated with contact creation and renewal can be eliminated. Concord will grow its engineering, HR, sales and marketing teams, in addition to pursuing its international expansion and the platform development.
As the Concord’s first institutional investor since 2015, Alven is pleased to join Tenaya Capital and Charles River Ventures to support the company in their expansion.