Wrocław-based Pergamin has raised $1.2 million in a seed funding round. The platform provides for the convenient and secure drafting, negotiating, signing, and managing of contracts and other legal documents.
With Judge Sunfish Partners presiding, assisted by the counsel of DFRI and FundingBox, Pergamin intends to use the new capital to further develop its product offerings, including the ability to deal with more complex contracts that involve multiple parties and various levels of compliance.
While Pergamin is by far from alone in the space, PocketLaw, Henchman, and Leeway come to mind, according to the startup, clients can reduce the average contract negotiation and signing process from one week down to 30 minutes. And I don't think you need me to tell you what that equates to in savings.
Now supporting over 350 clients, including Volvo Trucks and Cushman & Wakefield, Pergamin counts over 35,000 registered users, accounting for more than 80,000 contracts signed since founders Jakub Barwaniec, Piotr Łuczak, and Antoni Wędzikowski opened shop back in 2017.
Now holding a fresh bag of capital, the startup is well underway developing the next iteration of its service offer, one that’s designed to handle more legal complexities.
“Contract management is a very expensive and ineffective process, and the bigger the company, the worse an issue,” said Barwaniec. “We started with automating the most repetitive work in the companies that deal with many similar contracts. But the biggest value for the companies often comes from complex agreements, where negotiations involve multiple parties. This is a recurring issue for our customers, who must re-read multiple pages with every revision. We want to make an end to this.”
“On aggregate, this is a billion-dollar problem for every larger economy. Pergamin is well-positioned to build the tools needed so companies can stop wasting their time in this regard,” added Sunfish Partners’ Dr. Marcus Erken.