It was barely more than a year ago that Ironclad raised a $100 million Series D round at a valuation of nearly $1 billion, and now the San Francisco-based company has raised a $150 million Series E at a $3.2 billion valuation.
That brings total investment in the company, whose product is a digital contracting platform for corporate legal departments, to $333 million.
This latest round was led by Franklin Templeton, a global investment management firm known for backing category-defining leaders like OneTrust and Gong. The all-insider round also includes previous investors BOND, YC Continuity, Emergence, Lux, Haystack, Accel, and Sequoia Capital.
Ironclad said it will use the funding to fuel product innovation and scale its digital contracting platform.
“So far, we’ve focused on the core digital contracting experience: the standardized system for business-to-business contracts that connects people to systems and ultimately, data,” said Jason Boehmig, CEO and co-founder (pictured above).
“This next phase of growth will be about expanding that experience into a platform that connects business contracting processes across the organization.”
Founded in 2014, Ironclad’s customers include Fortune 500 companies such as L’Oréal and Mastercard, as well as industry vanguards such as the Texas Rangers Baseball Club and Snap.
Ryan Biggs, managing director of Franklin Templeton’s Franklin Venture Partners, said he considers Ironclad the “clear leader” in digital contracting.
“Other players have some components of the solution, but only Ironclad has the whole package,” Biggs said. “They are leading the field when it comes to vision, product innovation, and team, and we’re excited to partner with them to build the dominant platform for all business-to-business contracting.”