Ironclad (company)
Ironclad, Inc. is an American company that builds software for creating and managing business contracts. Founded in 2014 by Jason Boehmig and Cai GoGwilt, Ironclad is headquartered in San Francisco, California.
Ironclad makes a digital contracting platform—a digital version of contract lifecycle management— that helps companies make and manage contracts. Named a Leader in the Forrester Wave, Ironclad has also been recognized in the Forrester NowTech, Gartner Cool Vendor, and Aragon Hot Vendor awards. Their customers include Mastercard, Staples, Inspire Brands, Peloton, and Gensler.
Ironclad’s leadership team includes founders Jason Boehmig, Chief Executive Officer, who previously worked as a corporate attorney at Fenwick & West, and Cai GoGwilt, Chief Technology Officer, formerly of Palantir Technologies. It also includes Jennifer Paau, Chief Operating Officer; Dean Cormier, Chief Sales Officer; and Wyeth Goodenough, Chief Customer Officer—all who previously worked at Salesforce.
History[edit]
In 2014, Founders Jason Boehmig (CEO) and Cai GoGwilt (CTO) founded Ironclad to combat challenges related to contracts they encountered regularly as, respectively, a corporate attorney at Fenwick & West and a software engineer at Palantir Technologies.
Believing that contracts were the most important unsolved problem in modern business, they built a team of Silicon Valley engineers, lawyers, and legal professionals to create Ironclad—a platform that serves as a central repository for legal information, powered by highly automated workflows to streamline routine transactions.
Funding[edit]
In September 2017, Ironclad received $8 million in Series A funding led by Accel Partners.
Ironclad secured $23 million in Series B funding in September 2018 with leading investment firm Sequoia Capital.
Raising $50 million in 2019, Ironclad’s Series C funding round was led by Y Combinator Continuity.
In September 2020, Ironclad received $100 million in Series D funding, led by Mary Meeker’s investment fund, Bond Capital.
Other notable investors include SV Angel, Formation 8, Web Investment Network, Soma Capital, IA Ventures, and Greylock Partners.
Product[edit]
Ironclad is a contract lifecycle management software created to help companies make and manage business contracts digitally.
Ironclad works by digitizing the contract processes, converting contracts from static documents to dynamic actions and data points. Using a collaborative hub built on DocX standard, the platform then helps to streamline team collaboration and decisions, as well as communicate the contract data to other parts of the organization.
With self-service functionality for business users, as well as approval and signature conditionality, Ironclad’s Workflow Designer creates no-code capability for contract automation.
The Ironclad Editor allows for collaboration and negotiation with built-in redlining, editing, and audit-logging capabilities, as well as Word/DocX native to assist with counter-party negotiation. Ironclad is the only CLM that services DocX native contracts.
Created to host contract records and provide data in real-time, the Dynamic Repository features the ability to automatically capture key contract data in a searchable database.
Legal engineering[edit]
Ironclad continues to be on the forefront of defining and implementing the industry function of legal engineering teams, those that sit at the intersection of law and technology and serve as legal operations subject matter experts and implementation specialists. They were the first technology company to have Legal Engineers, a component of the Customer Success organization, led by Chris Chin, Vice President of Legal Engineering, who was the Legal Director of Google for 18 years.
The term “legal engineer” was first used by Richard Susskind in Tomorrow’s Lawyers, who described the role as necessary to all modern legal businesses..[1]
Notable customers[edit]
From fast-tracking contracts like non-disclosure agreements, master service agreements, and service-level agreements, to expediting processes for general counsels, legal operations, sales and procurement, and IT/technology departments, Ironclad has become the contract lifecycle management software-of-choice for many notable companies.
Ironclad’s clients include Mastercard, Staples, Inspire Brands, Peloton, Gensler, L’Oreal, Asana, Dropbox, Glassdoor, Thumbtack, and FitBit.
Awards[edit]
In addition to being “Great Place to Work”-certified[2] , Ironclad has been the recipient of many distinguished awards, including being named a leader in the Forrester Wave[3]; a Best Startup Employer and Next Billion-Dollar Startup by Forbes[4]; a Best Medium Workplace, Best Workplace in Technology, and Best Workplace in the Bay Area by Fortune[5]; a Best Workplace for Innovators[6]; and part of the Enterprise Tech 30[7]
References[edit]
- ↑ Susskind, R. (2013). Tomorrow’s lawyers. Oxford: Oxford University Press, p.111.
- ↑ Work, Great Place to. "Working at Ironclad". Great Place to Work®.
- ↑ "The Forrester Wave™: Contract Lifecycle Management For All Contracts, Q1 2021". www.forrester.com.
- ↑ Feldman, Amy. "Next Billion-Dollar Startups 2020". Forbes.
- ↑ "Ironclad". Fortune.
- ↑ Company, Fast (July 29, 2020). "Best Workplaces for Innovators 2020". Fast Company.
- ↑ https://www.wing.vc/uploads/images/blog/2020ET30.pdf
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