Venture capital investors are infusing cash into a wide range of contract management tools, increasing the competition among startups and larger service providers that help companies get a handle on all of their legal agreements.
Four contract drafting, management, and review platforms secured $70 million in investments in the second quarter of 2020, making contract tools the most popular among the top 10 legal tech investments. Since then, two Big Four accountancies have said contract lifecycle management tools will be a significant part of their push to expand their share of the legal services market.
CLM programs offer users a ...
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