top.legal has closed its second round of financing, raising a seven-figure sum. The Munich-based tech start-up builds AI-powered software for faster, more efficient contract processes.
Munich, February 18, 2022 — The tech start-up top.legal has closed its second round of financing with a group of well-known investors, raising a total sum in the seven-figure range. The new capital reinforces the company's growth trajectory and will fund the continued development of its AI, which helps businesses make better, data-driven decisions during the negotiation phase of a contract.
With this closing, the young legal-tech company from southern Germany joins a wave of successful funding announcements in contract-process automation. In Germany and abroad, the financing volume in this space had already climbed to more than 30 million US dollars in the opening months of the year.
"We are delighted by the commitment of these renowned investors, who all share our vision of digital contract processes that go beyond the electronic signature," says Alexander Baron, founder and managing director of top.legal GmbH. "This round gives us the opportunity to further establish top.legal as a secure and convenient tool for negotiating and drafting contracts — and to build the foundation for more valuable relationships between contracting parties and between stakeholders within companies."
A fresh start for contract work
In the contract business, top.legal's software is built to put an end to inefficient contract processes, redundant coordination rounds, complicated legal language, and friction between legal departments and sales.
Numerous mid-sized companies and software houses already rely on top.legal. Their goal is to harmonize quote and contract templates and to let sales teams draw up contracts without involving the legal department or waiting on long approval cycles.
"I am deeply convinced of the top.legal software," confirms Thomas Volk, tech investor and former CEO of CANCOM SE. "In my many years of experience, I have repeatedly seen the problem of inconsistency in contracts. The delays it causes in closing customer orders have often had a negative effect on results. I'm glad that top.legal is finally solving this."
Faster, more personal contract processes
top.legal does more than simplify the complex coordination involved in contract negotiations. The company also helps the parties reach better negotiation outcomes and secure digital deals: all processes run in cloud environments hosted on German servers.
The team — made up primarily of software engineers — has also set out to bring more direct contact and genuine collaboration into contracts. Supporting information about the product on offer can be embedded directly into each document at any time, for example through personal videos or explanations.
More information: top.legal
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