PactSafe Secures $5.5M Series A to Scale High-Velocity Contracting Solution

PactSafe, a cloud-based contracting platform, today announces completion
of a $5.5 million Series A funding round. The round was co-led by Mercury
Fund and Signal
Peak Ventures, along with repeat investors Elevate
Ventures and Vulpes
Testudo.

Since its launch in 2015, PactSafe has made contracts a seamless part of
doing business for thousands of companies with a transformative approach
that goes beyond traditional e-signatures. Customers process millions of
high velocity legal agreements daily with PactSafe’s modern workflow and
innovative signing methods, which include click-to-accept and
text-to-sign.

“The problem most businesses face when improving contract workflows –
going “all-in” on just e-signatures rarely moves the needle,” said Brian
Powers, CEO and Founder of PactSafe.
“With this investment, we will continue our history of creating
solutions that drive efficiencies and save our customers enormous
amounts of time. Since PactSafe’s inception, we’ve processed millions of
legal events, allowing our customer to save 1.8 million work hours by
using our platform. Our goal is to give companies time and peace of mind
back.”

PactSafe will use the funds to expand its reach further into enterprise
SaaS, ecommerce markets and other verticals. The product team will focus
on continued development of its high-velocity contracting solution.
Currently, the platform provides customers the ability to populate
information from any system directly into a contract and track contracts
in real-time via an easy to execute, mobile-responsive experience.
PactSafe will also continue enhancing its industry-first click-through
workflow API, which is used by businesses like TiVo, Upwork, and Angie’s
List to power millions of self-service online contracts every day.

“We are very pleased to be joining a strong syndicate with our
investment into PactSafe,” said Ron
Heinz, managing partner at Signal
Peak Ventures. “Upon initial review, we were easily attracted by the
company’s technology, management team and the broad problem PactSafe is
solving in the marketplace. We look forward to supporting the company’s
growth and are very excited for its bright future.”

“We look for companies that solve very difficult problems,” said Adrian
Fortino, managing director at Mercury
Fund. “PactSafe is providing an unparalleled solution to the
complexity and inefficiencies of online contract workflows. We are
excited to be on board and be a part of PactSafe’s success.”

In addition to PactSafe’s click-to-sign technology, users are also
reaping benefits from the solution’s workflow features. These features
help reduce internal hiccups by creating contract and signing workflows
that are seamless compared to other business processes. Whether it’s
signing an NDA with a text message reply or integrating a sales contract
signature into your company’s mobile app, PactSafe can ensure that all
contracts are safe, secure and documented.

“When CDW was first introduced to PactSafe, we solely relied on the
solution’s contract execution capabilities for our legal team,” said Sean
Brown, enterprise architect at CDW.
“Based on our initial experience with the contract execution solution,
we searched for ways to apply PactSafe’s solutions across the business.
The growth of PactSafe will continue our success by giving our
employee’s time back to apply in other areas of our company.”

This announcement follows PactSafe’s $2.5 million seed round in November
of 2015. For more information on PactSafe or a demo, visit pactsafe.com.

ABOUT PACTSAFE, INC.

PactSafe is an Indianapolis-based API-first software company that
specializes in getting contracts signed electronically at high velocity
and massive scale. PactSafe’s modern signing methods are saving
businesses time and money and its instant legal records are increasing
peace of mind. Through PactSafe’s solutions, customers like Angie’s
List, CDW and TiVo protect their legal and business records, and save
employees time through high-velocity contracting.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180711005129/en/

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