Summize announced a $50 million investment to accelerate the next phase of growth. The new investment included participation from existing investors, Maven Capital Partners and YFM Equity Partners, and welcomed new specialist tech investment firm Kennet Partners and global investor, Federated Hermes Private Equity. The funding will enable further expansion of product capabilities, team, and customers globally.
Summize helps in-house legal teams manage contracts within popular software applications, including Microsoft Word, Outlook, Microsoft Teams, Slack, Salesforce, and HubSpot, enabling maximum efficiency, accuracy, and speed. Summize also leverage AI to extract insights and knowledge from financial documents, compliance materials, handbooks, and regulatory content, surfacing important information in the right tools at the right time.
Tom Dunlop, CEO and Co-Founder of Summize, said, “We founded Summize to make contracts easier to understand and the contracting process more efficient by complementing how modern teams work. This new $50 million investment underlines our differentiated user experience and ability to design innovative, trusted AI solutions for legal teams and the wider business. With the support of our new and existing investors, we will continue to scale the business by focusing on our intuitive user experience, ongoing AI innovation, and expanding our exceptional team to support our growing number of global customers.”
Jeremy Thompson, Partner at Maven Capital, said, “The Summize approach to innovation, its strong leadership team, and impressive company culture make it a strong investment. From its roots in contract summarisation, the company has rapidly expanded its capabilities to become a cutting-edge Contract Lifecycle Management solution that has attracted global clients. With an exciting roadmap and big, future ideas, we’re looking forward to the next phase of growth and continued success with Summize.”
Mike Clarke, Partner at YFM Equity, added, “The Summize AI-powered experience offers a sophisticated approach to contracting that legal teams are easily adopting and using daily. Customers quickly achieve an incredible ROI and benefit from Summize’s embedded experience within their existing collaboration tools. In addition, Summize’s strong foundation in AI and its ability to contextualise knowledge are designed to scale beyond core CLM use cases and into other areas of a company’s business, making this a strategic AI investment that scales beyond legal.”
Read full article: https://www.summize.com/resources/summize-secures-50-million-investment
