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Terzo Lands $16M To Extract Key Data From Contracts

PRIVATENov 17, 2022•over 3 years ago

Amount Raised

$16 Million

Los AngelesSoftwareArtificial IntelligenceFintech

Investors

Human CapitalEngage VenturesTyh VenturesAlign Ventures

Description

Contract governance is the steps taken to make sure agreed-upon terms between a company and its suppliers are met. It’s an essential part of doing business, and the consequences for getting it wrong can be steep. McKinsey estimates that poor contract governance can cost organizations up to 9% of their total revenue, which equates to $1.4 trillion for the Fortune 500 alone and $6.4 trillion across all enterprise business-to-business companies.

Company Information

Company

Terzo

Location

Los Angeles, California, United States

About

Terzo is an intelligent CLM built from AI-powered technology that unlocks important financial insights hidden in your contracts. Traditional CLMs are glorified storage repositories that were not designed for the buy-side use case. Terzo's CLM was designed on the foundation of contract intelligence, providing business teams the necessary data to improve productivity, optimize spend, and manage risk and governance across their entire supplier ecosystem. Terzo has global operations across the United States, Canada, and India. Learn more about us at www.terzocloud.com.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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