Read more coverage on our extended seed round from TechCrunch here.
San Francisco, CA – May 31, 2017 – Concord, a leading contract management platform, today announced $3.7 million in additional funding to continue solving the challenge of reconciling speed and compliance for hyper-growth and enterprise-level companies like Just Eat, Crédit Mutuel, and Stanford University. The investment will be used to scale the marketing and sales organizations.
The round was led by Alven Capital and also included previous Concord investors Streamlined Ventures, Bruno Deschamps, and Thibault Poutrel. Other investors in Concord include Cota Capital and Tien Tzuo, CEO and Cofounder of Zuora.
“Concord has achieved a high growth velocity due to it’s innovative platform and being the first to define a market that’s been neglected for 30 years. I’m incredibly excited to see how that takes off even further with this investment,” said Raffi Kamber, partner at Alven Capital.
Ryan Ward, formerly Head of Enterprise Sales at Signifyd, and Travis Bickham, formerly Head of Enterprise Marketing at Tradeshift, have both joined the executive team following the round as Director of Sales and VP of Marketing.
“What most companies miss is that contracts aren’t documents, they’re relationships and they need to be managed for their entire lifecycle as such. This is a massive untapped market and our immediate traction speaks volumes to this. We’re pleased to continue working with investors who recognize this opportunity and bring decades of SaaS expertise. And we’re thrilled to be bringing on proven leaders like Ryan and Travis, who’ve continually produced massive commercial success in their previous roles,” said CEO Matt Lhoumeau.
The announcement comes on the heels of rapid growth for Concord, where the user base has expanded 400% in the 19 months since seed funding to 80,000 companies globally.