ContractZen, a Finnish LegalTech SaaS software company, has completed a €1 million financing round led by Danish private equity firm Nordic Eye Venture Capital. The funds will be used to accelerate growth and international marketing efforts in the selected target markets.
ContractZen’s comprehensive SaaS service brings together contract management, meeting management, virtual data rooms (VDR) and electronic signatures. Current users of ContractZen include JCDecaux, Total and Volocopter. In addition, PwC Finland resells the solution to its customers. ContractZen is used by close to 400 organizations in more than 30 countries.
“Our mission is to help organizations of all sizes to manage their contracts, board meetings and so-called GRC documents (Governance, Risk and Compliance) easier than ever before. We are pioneering a new category of SaaS which focuses on helping organizations to be Due Diligence ready every day, enabling them to be more agile, more scalable, and ultimately more valuable,” says Markus Mikola, CEO of ContractZen. “The Nordic Eye partnership and the funds will boost our global marketing efforts and allow us to grow our team and develop our service further.”
“We have followed ContractZen’s journey for more than six months. We are impressed by the level of customer satisfaction, great team skills and the scalable LegalTech SaaS platform. With hundreds of customers across continents, ContractZen has proven its position to become truly global, and we are excited to join the journey,” says Ib Drachmann, Nordic Eye’s Investment Manager and Partner.
“B2B software used by administrative staff has traditionally been expensive and has been perceived as difficult to use. We have re-thought this and designed a comprehensive yet easy-to-use cloud solution, which customers can try and buy directly from the internet. Our SaaS solution is inexpensive and therefore offers SMEs the opportunity to enjoy an enterprise-grade cloud service which has previously only been possible for large companies. The SME sector has huge global potential,” says Mikola.
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