Contract Management firm- Attort Legal Consultancy Pvt Ltd(known as TheLegal Capsule or TLC), has raised an undisclosed amount from Hyderabad basedSucSEED IndovationFundand many known Angel Investors including S Ramadorai (Former CEO of TCS), Kiran Deshpande (Former CEO of Tech Mahindra), Ravi Nigam (Founder and Former MD of Tasty Bite),Shashank Deshpande (Managing Partner at Pentathlon Ventures) , Vineet Patni (Managing Partner atWepartner Consult), Shantanu Deshpande (Founder of Bombay Shaving Company) and few others.
The Legal Capsule provides an AI powered Contract Lifecycle Management platform, enabling SMEs andLarge enterprises to automate their processes in order to handle end to end contract management whilereducing time, cost and risks with legal contracts. Proprietary software helps to manage all compliance,renewals and tasks pertaining to contracts with notifications, thereby mitigating risk for an Enterprise.
The Legal Capsule, unlike other Legal Contract Management (CLM) Products, allows drafting thecontracts in MS word within the application, seeking internal approvals, negotiating clauses withcounterparties, e-signing using legally binding signatures, e-stamping modules for States across India andstoring all contracts in one single repository. It uses AI & ML to analyze the reported findings and offer blockchain-powered authenticated signature solutions that not only captures signatures, but live photographs of the signer, GPS details, IP address and date & time of signing contract.
Gautami Raiker,Co- Founder and CEO of The Legal Capsulesaid, “We believe ef ective Contract Management is a must for every Enterprise to fully secure their interests and we endeavor to help them inthe digital transformation of this very important space TLC has been helping mid and large sectorenterprises to manage and automate contracts right from drafting to execution and renewals.”
She further added that “This seed funding will help us to strengthen our ef orts on client acquisition,accelerating team hirings and global expansion strategy. Most importantly we are delighted to have gotaccess to a set of well known mentors in Industry, who have invested in our company”.
Speaking on why they have invested, VVSN RajuCo-Founder & Partner at SucSEED IndovationFund, said, “Increasing demand for agile contract management software and changing regulatorycompliances with rising complexity due to diversity in sales and licensing models, a sector that will growexponentially over the next few years. Legal Capsule has grown their revenue by 4x over the past one year. It has a massive and expanding TAM equal to $25Bn which includes an E-signature market of $20Bn andContract Lifecycle Market of $5Bn.”