ContractSafe Receives Growth Investment from Five Elms Capital to Fuel Team Expansion and Product Development
ContractSafe, a leading cloud-based contract management platform, announced a $27.5mm strategic growth investment from Five Elms Capital. The investment and partnership will enable ContractSafe to scale its team and release additional products and features designed to streamline contract management for businesses. Five Elms’ investment marks the company’s first institutional capital raise since it was founded seven years ago.
“We wanted an investor who shares our vision and who understands our mission of being the most intuitive and easy to use contract solution.” said Randy Bishop, President of ContractSafe. “Five Elms has an amazing record of success and of supporting founders. We look forward to partnering with them to make our product even easier for our customers to use as well as adding more features that meet their needs.”
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The company has seen strong adoption of its platform, maintaining impressive revenue growth and high customer retention and satisfaction. The no-frills, highly streamlined contract management software is a hit with customers who love its easy-to-use interface, quick and easy implementation, and robust search, reporting and date management capabilities. Critical integrations and an expansive feature set make ContractSafe the go-to choice for customers that want to upgrade to a dedicated contract management platform without breaking the bank.
“We are thrilled to partner with Ken, Randy, and the rest of the ContractSafe team.” Said Ryan Mandl, Managing Director at Five Elms Capital. “We believe the company’s unique value proposition, intuitive design and ability to address multiple customer pain points throughout the contract lifecycle will make it the de facto solution in the contract management space. ContractSafe provides companies with tools to organize and automate their contract management processes. Five Elms is excited to support the company in continuing to provide innovative solutions for its customers going forward.”
Andrew Apfelberg and Aaron Gafni at Greenberg Glusker Fields Claman & Machtinger LLP served as legal counsel to ContractSafe. Ed Wilson and Jenny Witt at Husch Blackwell LLP served as legal counsel to Five Elms Capital.
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