Seal Software has secured $4 million in funding. The round was led by Toba Capital.
Seal Software, the leading provider of Contract Discovery and Contract Analytics solutions, today announced it has secured $4 million in funding to support the next stage of the company’s growth. The round was led by Vinny Smith’s Toba Capital and supported by many of Seal’s existing investors. Seal also announced today that software industry veteran Paul Sallaberry has joined its board of directors to help guide the company’s growth initiatives.
The new funding comes on the heels of a successful 2013 with tripled revenues and 100 percent employee growth, and significant expansion of partner and customer implementations. Seal Software’s Contract Discovery platform is used by hundreds of businesses worldwide, including Fortune 500 financial, marketing, technology and pharmaceutical companies, and is integrated into a wide range of industry leading Contract Lifecycle Management (CLM) and Customer Relationship Management (CRM) software platforms.
“Seal Software solves a problem that many companies don’t want to admit they have: minimal visibility into their contract portfolios,” said Ulf Zetterberg, Seal Software’s chief executive officer. “We are committed to providing businesses with the tools they need to gain complete control of their contractual agreements in order to mitigate risk, manage compliance and drive new revenue. Seal’s platform has already helped hundreds of companies save countless hours and millions of dollars. This latest round of funding further validates the value-add of a successful contract discovery and review process within today’s organizations.”
Seal Software’s dynamic Contract Discovery and Contract Analytics suite is designed for businesses requiring greater visibility and control of their contracts throughout the enterprise. Seal Software’s recently introduced Contract Analytics solution is designed to provide an expanded level of visibility into contracts and their clauses using real-time queries that can be performed in minutes rather than hours or days when undertaken manually. The platform offers a fully scalable solution, with proactive analysis to help organizations mitigate risk and drive revenue opportunities.
“I believe Seal Software is in a unique position to shape the future of the contract discovery and analytics market,” said Paul Sallaberry, venture investor and new member of the Seal Software Board of Directors. “Any company managing thousands of contracts – from leasing and third-party vendor agreements to employment and operating agreements – needs a complete contract solution to ensure their legal teams have complete visibility into their portfolio to reduce risk and increase profits. Seal’s platform is truly dynamic and provides much-needed insight into contract terms, allowing companies to save money and better allocate resources.”
Paul Sallaberry is a seasoned software professional, holding senior executive roles in sales and operations at a range of companies including Veritas and Oracle. Throughout his career, Sallaberry has served on the boards of a range of enterprise software organizations, as well as the University of California, Davis Graduate School Management Dean’s Advisory Council and the Board of Trustees of the UC Davis Foundation. He is also a trustee of Sacred Heart Schools and holds a degree from the University of California, Davis.
About Seal Software
Seal Software’s Contract Discovery and Analytics platform helps companies maximize revenue opportunities and reduce expenses and costs associated with contracts, and contract management systems and processes.
Seal Contract Discovery locates contractual documents within minutes wherever they reside within an organization and is rapidly deployable; extracting key contractual terms and clauses, rendering them for easy review, and populating corporate repositories, including Customer Relationship Management (CRM), Contract Lifecycle Management (CLM), and Enterprise Resource Planning (ERP).
Seal Contract Analytics empowers clients to analyze contracts by discovering specific language and clause combinations that are most relevant to your business.