LinkSquares, a Boston-based company that provides AI-based contract management and analysis platform for corporate legal departments, is today announcing the roll-out later this month of a product that extends its platform to the pre-signature, contract-generation process, to offer enterprises an end-to-end platform for drafting, reviewing and managing contracts.
The company says that the new product, called LinkSquares Finalize, will work seamlessly with its existing post-signature product, which it now calls LinkSquares Analyze, to provide an integrated platform.
LinkSquares Finalize will provide three capabilities, the company says:
- Drafting. The product will enable legal teams and sales, HR, procurement, marketing, and other internal departments to create documents with pre-approved language based on contract templates, helping finalize contracts more quickly and reduce risk through the use of standardized language.
- Contract review and versioning. The product will allow contract management teams to receive notifications throughout the negotiation process and work autonomously on redlining and negotiations, while also engaging with other departments that may need to contribute.
- Approval. The product provides final approval notification, notifying the general counsel, chief legal officer or other department heads who need to provide sign-off on the final contract.
The company says it developed the product in response to feedback from its customers — which include DraftKings, Fitbit and Asurion — that wanted an integrated platform for pre- and post-signature contract management.
“In the race to accelerate contract generation and approvals while using a lean bank of tools and resources, legal teams demanded a solution that could handle both pre-signature activity and post-signature analysis,” Vishal Sunak, LinkSquares CEO and co-founder, said in a statement.
“The new pre-signature capabilities give legal teams one, end-to-end tool that can handle contracts at their inception through execution, which removes silos and improves transparency for a streamlined contracting process across the organization.”
In February, the five-year-old company announced that it had raised $14.5 million in a Series A financing round, bringing its total financing to $21.5 million.
Corporate contract management may be the hottest area in legal technology right now, at least when measured by investment dollars. Just last month, a single day saw investments in four companies totalling $70 million.