Contracthero closes seed round for 2.15 million euros

The B2B software-as-a-service startup ContractHero has closed a seed financing round of 2.15 million euros. The funds will be used to expand the intelligent contract platform and strengthen the team. The startup offers cloud-based contract management with automated insights.

Berlin - B2B software-as-a-service startup ContractHero today announced the closing of its seed financing round. VC investors VR Ventures / Redstone, coparion, Swiss Post Ventures, xdeck and Venista Ventures participated in the round with a total of 2.15 million euros.

We are proud to be leading the transformation of smart contract management and unlocking new opportunities for companies that previously failed to recognize the hidden potential in their contracts.

Sebastian Wengryn, Co-Founder & CEO ContractHero

Until now, many small and medium-sized enterprises (SMEs) have stored their contracts in folder-based archives such as Google Drive or Sharepoint. This leads to resource-intensive manual work and an increasing lack of overview. Decisions are often based on limited or outdated information, resulting in compliance and risk concerns as well as unnecessary costs.

Since its launch in 2021, ContractHero has established itself as a trusted partner for hundreds of companies and is specifically tailored to the needs of finance and legal departments. By automating contract management, ContractHero enables SMEs to efficiently manage their contracts by providing quick access to important information and timely reminders for upcoming deadlines and tasks.

Automated contract analysis

Currently, ContractHero analyses contracts and automatically extracts key information, which speeds up the process of digitizing contracts. The funds raised will be used to expand ContractHero's intelligent contract platform. Based on the analysis of around 100,000 contracts and using artificial intelligence, ContractHero provides its customers with valuable insights. This data improves contract negotiations, reduces legal and compliance risks, identifies opportunities for financial optimization, improves the accuracy of cash flow forecasts and provides support for financial audits.

ContractHero is a German B2B startup that helps SMEs take full control of their contracts. With its cloud-based software-as-a-service solution, it provides direct access to relevant information and enables companies to realize the full potential of their contracts. Founded in 2020 by Sebastian Wengryn and Gerry Koch, ContractHero's innovative contract management solution has gained a lot of attention from SMEs as well as market leaders in the DACH region such as Eurowings, ZDF, Mercedes Benz Leasing, Dorint Hotels and Miles Mobility.