LinkSquares pockets $100 million in latest big legal tech funding round

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  • Boston-Founded LinkSquares Reaches Total Funding of $161.5M
  • Series C funding led by G Squared

(Reuters) – LinkSquares, which offers a contract management platform for corporate legal teams, has raised $100 million in Series C funding, the company said on Monday.

G Squared led the round for Boston-based LinkSquares, which also included new investor G2 Venture Partners and existing backers, the company said.

This appears to be one of the largest funding rounds made public for a legal technology company so far in 2022. Ironclad, another contract lifecycle management software company, has raised a $150 million Series E round at a $3.2 billion valuation in January.

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The legal technology market, which serves law firms, corporate legal teams and consumers, had a busy 2021 with new outside capital and significant mergers and acquisitions. Three companies also went public last year.

LinkSquares, founded in 2015, markets AI-powered tools for legal teams to draft and review contracts and analyze existing contract data, according to its release.

LinkSquares said customers include Wayfair Inc and DraftKings. Others included on its website include FitBit, TGI Fridays, and Tech Data Corp.

LinkSquares said its total funding with the new round was just over $161 million, at a valuation of $800 million. The company raised a $40 million Series B round in July.

Contract-driven businesses have attracted investor interest. Ontra secured $200 million in Series B funding in November and ContractPodAi raised $115 million in Series C funding in September.

Read more:

Legal tech buzzed throughout 2021 with IPOs and new ‘unicorns’

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