Concord wants to be your all-in-one solution for everything related to contracts. The startup just raised a $3.7 million Series A round from Alven Capital, with existing investors Streamlined Ventures, Bruno Deschamps and Thibault Poutrel also participating.
Many departments rely on contracts to work with clients, suppliers, legal partners and more. But it’s still a tedious process as you often start working on a contract in Word, then send it back and forth with your coworkers and partners before everybody signs it.
There are a few tech products out there making it simpler to manage documents and revisions in the cloud, manage digital signatures and more.
Concord wants to centralize everything related to contract management into one service, and this service is supposed to work for all sorts of teams. Companies like Just Eat have been using it across the board, from the sales team to the HR team.
And it starts with writing new contracts. Concord lets you create and edit contracts directly in your browser. If you want to send it to a coworker, you just share the Concord document. The platform then tracks changes and versions so that everybody across your organization stays on the same page. And those contracts are legally binding.
If you need to get your manager’s approval before sending a contract, you can notify your boss or the CFO of your company directly in Concord. If the client wants to renegotiate some points, you can edit the contract in Concord again.
And once everything is done, Concord archives all your contracts so you keep track of all the contracts you signed with a specific suppliers. Concord integrates with Salesforce, Box and Google Drive.
80,000 companies use the product so far. While there’s a free tier, most companies will end up paying $25 to $50 per user per month to use Concord. It’s not cheap, but the startup hopes that you’ll never lose a contract in your email inbox again.