LinkSquares secures $4.8 million to disrupt legal operations with its AI-powered contract analytics cloud
With internal legal and finance teams spending thousands of hours a year reviewing contracts one by one, a Boston, Massachusetts-based startup, LinkSquares, has built software that automatically reads and retrieves key data from your entire library of agreements, making review and diligence projects lightning fast and super simple. LinkSquares analysis technology automatically parses text from your contracts to identify key data, content, and liabilities. LinkSquares helps customers save money by eliminating manual reviews while LinkSquares does the heavy lifting.
Today, LinkSquares, the AI-powered contract analytics cloud startup, announced it has closed a $4.8 million seed extension fundraising to continue the contract analytics revolution in 2019 and beyond. The round was led by Hyperplane Venture Capital and MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), with participation from a top Am Law 50 firm. In conjunction with the financing, LinkSquares also announced that John Murphy of Hyperplane is joining its board. LinkSquares has raised a total of about $7 million in funding over 2 rounds. Their latest funding was raised on Mar 7, 2019 from a Seed round. The company previously raised nearly $2.2 million in its first funding round in 2017, led by Regent Private Capital, a Tulsa, Oklahoma-based private equity and VC investment firm.
Founded in 2015 by Chris Combs and Vishal Sunak, LinkSquares is a web application designed to help legal and finance teams work smarter. The AI-powered contract repository automatically finds and extracts key terms and meta-data from contracts and provides key insights with deep search, custom reporting, and analytics. LinkSquares saves high-growth companies hundreds of hours and thousands of dollars by eliminating manual contract review and the need for outside counsel.
We are very excited about working with all our new investors for this round. Both of the co-leads share the vision and excitement around using technology to replace historically manual processes. LinkSquares is extremely passionate about helping in-house counsel, and this round of funding enables us to continue to build an incredible product experience and ultimately enable these teams to operate more efficiently in support of business operations,” said Vishal Sunak, LinkSquares CEO.
Commenting on the financing, John Murphy, Co-Founder and Managing Partner at Hyperplane, said: “As intelligent tools continue to proliferate, we believe there is a huge opportunity to use AI to automate the routine, recurring processes within different functional areas of an organization. LinkSquares provides an elegant solution that allows legal professionals to automate these manual, low value tasks and focus on what’s really important.”