LinkSquares nets $100 mln in latest big legal tech funding round

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  • Boston-founded LinkSquares hits $161.5 million in total funding
  • Series C financing led by G Squared

(Reuters) – LinkSquares, which makes a contract management platform for corporate legal teams, has raised $100 million in Series C financing, 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.

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

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

LinkSquares, founded in 2015, markets AI-driven tools for legal teams to draft and review contracts and analyze data from existing contracts, according to its statement.

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 financing with the new round hit just over $161 million, at an $800 million valuation. The company raised a $40 million Series B round in July.

Contracts-focused companies have attracted interest from investors. Ontra secured a $200 million Series B round in November, and ContractPodAi raised $115 million Series C financing in September.

read more:

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

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Sarah Remember

Sara Merken reports on privacy and data security, as well as the business of law, including legal innovation and key players in the legal services industry. Reach her at [email protected]

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