Source: Fortune
Ontra announced it has raised $70 million in financing from Silicon Valley Bank, a unit of First Citizens Bank. In total, Ontra has collected $325 million in financing and equity from investors including Blackstone, Battery Ventures and Mike Paulus, a former Andreessen Horowitz partner who cofounded Assurance IQ.
Ontra is one of several legal tech startups, including Ironclad and Juro, that use AI to automate routine legal processes for private markets and investment firms. Ontra currently employs about 385 people and has processed over 1.5 million documents.
Ontra is looking to scale rapidly with plans to launch two new products a year for the foreseeable future, Troy Pospisil, Founder and CEO of Ontra said. “We want to be the indispensable, ubiquitous infrastructure provider for the private markets.”
Ontra currently has roughly 850 customers including the largest investment banks and private equity firms like Blackstone, Warburg Pincus, and Motive Partners, as well as asset manager AllianceBernstein.
Read the full article: https://fortune.com/2025/06/10/ontra-private-equity-ai-wall-street-contracts-back-office-legal-blackstone/
