Indianapolis-based PactSafe Inc. has received a $5.5 million round of funding. The digital contract technology company says the investment will help boost its footprint in markets including software-as-a-service and e-commerce. PactSafe closed on a $2.5 million seed round nearly three years ago.
The Series A funding is co-led by Mercury Fund, which has offices in Texas and Michigan, and Signal Peak Ventures of Utah. Indianapolis-based Elevate Ventures and international investor Vulpes Testudo also participated in the round.
Chief Executive Officer and founder Brian Powers says "the problem most businesses face when improving contract workflows – going "all-in" on just e-signatures rarely moves the needle. With this investment, we will continue our history of creating solutions that drive efficiencies and save our customers enormous amounts of time. Since PactSafe’s inception, we’ve processed millions of legal events, allowing our customer to save 1.8 million work hours by using our platform. Our goal is to give companies time and peace of mind back."
The company is in growth mode, detailing progress last year on 2016 plans to add 90 jobs by 2020. PactSafe customers include TiVo, Upwork and Angie’s List. You can connect to more about the latest round of funding by clicking here.