Ironclad Announces Breakthrough 2019 As Digital Contracting Helps Transform Legal

With company revenue increasing by 3x, Ironclad powers contracts for companies like MasterCard, Pixar and L'Oréal

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Dec 10, 2019, 09:00 ET

SAN FRANCISCO, Dec. 10, 2019 /PRNewswire/ -- Ironclad, the leading digital contracting platform, recaps milestone year announcing new customer and company growth as demand for innovation in Legal continues to increase. Ironclad will mark the end of this year with 3x overall revenue growth, 90% customer growth and 250% product usage increase.

2019 proved to be a banner year for VC legal tech investment, with $1.2 billion in funding as of September. Off the heels of a $50 million Series C round, Ironclad continues strong momentum partnering with new enterprise customers, such as MasterCard, Pixar, L'Oréal, Staples and Fox. Ironclad's CEO, Jason Boehmig was also recognized as a "Top 10 Legal Business Technologist" for his innovative approach to lawyering at Fenwick & West and his founding of Ironclad.

"As we head towards 2020, digital transformation is no longer leaving contract management behind," said Jason Boehmig, CEO of Ironclad. "Digital innovation has been a painful gap in the day-to-day operations of today's legal teams. Legal is facing pressure to modernize and we're seeing platform demand from companies ranging from VC-backed startups to Fortune 500 enterprises. Today's legal teams cannot scale with headcount alone, they are seeking digital solutions to automate their end-to-end contract processes and unlock more business value."

The fusion of Legal and Technology is transforming manual, black-box contracts into automated, data-rich workflows. Ironclad has seen a major uptick in adoption of its Workflow Designer — a first-of-its-kind solution that allows users to self-serve agreement-specific workflows with easy data tagging, e-signature integration and customizable access controls.

Since launching Workflow Designer, Ironclad has seen:

72% of Ironclad customers deploy Workflow Designer to streamline business contracting processes
An 89% increase in the number of completed workflows since the start of Q3
A 50% increase in overall weekly active Ironclad users since the beginning of Q3

Workflow Designer has helped many legal teams increase agility to keep pace with the high speed of their businesses. For example, as consumer companies shift marketing spend to remain competitive in the age of social platforms, quickly executing and maintaining influencer — or ambassador — agreements have become critical. For companies like L'Oréal, digital transformation has touched every dimension of how the company is growing, including how Legal operates. With the help of Ironclad, L'Oréal has automated nearly 4,000 contract workflows, including 1000 ambassador agreements across more than 30 of its brands.

Another example is Ironclad's work with Asana. As a modern tech company with millions of users across 195 countries, Asana needed a solution to streamline its contract management process and help the legal team be more organized, efficient and effective.

"We used to manage all our contracts manually, which isn't ideal for a global sales organization," said Ashlee Best, Head of Legal and Privacy Operations at Asana. "With Ironclad, we have automated over 2,500 workflows, including the creation, approval and storage of our sales contracts, as well as metrics reporting on the business process and contract analytics. Our sales organization has adopted Ironclad with ease and now our teams can meet the demands of Asana's exponential growth and scale."

About Ironclad
Ironclad is the leading digital contracting platform for legal teams. By streamlining contract workflows, from creation and approvals to compliance and insights, Ironclad frees legal to be the strategic advisors they're meant to be. Ironclad is used by modern General Counsels and their teams at companies like Dropbox, AppDynamics and Fitbit to unlock the power of their contracts data. Ironclad was named one of the 20 Rising Stars as part of the Forbes 2019 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world. The company is backed by investors like Accel, Sequoia, Y Combinator and Emergence Capital.

To learn more, please visit us at https://www.ironcladapp.com

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SOURCE Ironclad Inc.